Manor Racing is unlikely to compete in the 2017 Formula One season after its operating company went into administration following the team's failure to secure investors and losing a place in the constructors' championship. Just Racing Services Ltd, which runs the team, has been appointed a joint administrator in FRP Advisory LLP, a specialist restructuring and insolvency services firm to oversee the process. Having failed to secure an investor for 2017, despite talks with several potential investors over the last few months, the team was faced with no other option but to end the operation. Terms of a sale were agreed with an Asian investment consortium last month but that failed to...
Full Story »