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Manor on brink of administration
The Manor Formula 1 team is on the brink of collapsing into administration, putting hundreds of jobs at risk. Sky News has learnt that the team, which has been bankrolled for the last two years by Stephen Fitzpatrick, an energy industry executive, is lining up FRP Advisory to act as the administrator. Efforts will continue to find a buyer to enable Manor to compete in the 2017 F1 world championship, but ongoing discussions with a number of prospective investors have so far failed to result in a deal. Sources said that staff at Manor's headquarters were expected to be informed about the developments later on Friday morning. Approximately 200 people work for the team. An insider said...
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7y ago from SkySports.com
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