The Manor Formula 1 team's hopes of competing in the season opener in Australia "are fading, with sources indicating that the outfit has a week left to find a buyer," according to Chinchero & Cooper of MOTORSPORT. Just Racing Services Ltd., the company that operates Manor, "went into administration last week as the team failed to find an investor that would secure its future." While the team is "pursuing all possible avenues to secure its future, time is running out." Despite the financial situation, the '17 car "is ready to go into production" at its Banbury HQ. However, with the team being in administration, "production of the parts cannot start as the administrator has blocked all extra expenditure in order to protect creditors." The team "is believed to be in a situation where it could still be ready for Melbourne, but it needs to find an investor before the end of next week." A source close to the situation indicated that the deadline to find a solution is Jan. 20. After that, "the fate of the team will be sealed." Entrepreneur Tavo Hellmund emerged as the favorite to complete a takeover of Manor in December, "but a possible deal fell through" (MOTORSPORT, 1/12).
