Hopes "are rising that Marussia will stagger back on to the Formula One grid this season as a potential buyer emerged from the shadows," according to Kevin Eason of the LONDON TIMES.
The first clue that there could be hope for the team that went out of business last year "came from administrators, who cancelled a planned auction of equipment this week." There have already been two Internet sales, but that has "featured mainly memorabilia and equipment that is not crucial to restarting the factory."
With Caterham, Marussia is "listed to take part by the FIA, the governing body, at the first grand prix in Australia in March but that depends on whether buyers come forward to resurrect the defunct teams." The Marussia name "will disappear and executives are working to bring back the original Manor Grand Prix, which operated in several junior series as well as F1." Former Marussia Team Principal John Booth said that "negotiations were at 'a fairly advanced stage' with an investor" (LONDON TIMES, 1/19). REUTERS' Alan Baldwin reported the '14 cars, spares and race equipment "had been due to go on sale on Wednesday" but administrators FRP Advisory said that it had been "halted to allow for discussions to continue with a third party." Booth said that he hoped "there could be a deal in time for the start of the new season on March 15."
He said that talks were "at a fairly advanced stage with a new investor, a credible investor." Booth:
"Postponing the auction gives us a bit more time to explore it." FIA has said that "it is willing to allow struggling teams to race with 2014 cars if that helped them to survive."
Booth said that the cars remained in Abu Dhabi, "where they were sent at the end of last season in a failed attempt to compete, and it would be 'fairly straightforward' to ready them for Melbourne" (REUTERS, 1/19). The BBC's Andrew Benson reported asked what his level of confidence was that the team would be able to put a rescue deal together, Booth said, "Pretty high." He admitted, however, that the deal was "very complicated" and that "time is of the essence."
Marussia collapsed with £31M of debt, according to the administrators.
The "biggest creditor by far was engine supplier Ferrari," which was owed £16.6M.
A meeting of the rule-making strategy group agreed last November to allow both Marussia and Caterham "to use their 2014 cars in 2015." But the issue "would still require a fax vote of the FIA World Council, the sport's legislative body." This "would be considered a formality should Marussia be able to put a deal together" (BBC, 1/19).
