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'Manor F1 team lines up administrator'
– Manor is on the brink of collapsing into administration ahead of the new Formula 1 season, with recent investment discussions failing to result in a deal, according to a report by Sky News.Sky News reports that the team, funded by OVO Energy founder Stephen Fitzpatrick over the past two seasons, has called on FRP Advisory to act as the administrator, if required.Fitzpatrick stated in November that Manor had agreed terms with a new investor, but neither he – nor fellow team representatives – have made any further comments on the matter.Approximately 200 staff work for Manor under its current guise.Manor held 10th in the standings for the majority of the 2016 season, after Pascal...
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7y ago from GPUpdate.net
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