If the Manor Formula 1 team (formerly Marussia) fails to find a buyer or investor within two weeks, the hope of making the 2015 grid is over according to team boss John Booth.
Marussia collapsed toward the end of the 2014 season when funding ran out, leading to the sale of its assets. However the team had almost finalised designs for a 2015 car and could potentially build two chassis before the first race in Australia if they can find investment in the next two weeks.
“There’s still a slim hope, but it’s getting extremely late,” Booth told the Yorkshire Post. “We’ve got two weeks to complete something by. So there’s still a chance. We are talking to investors and they are positive talks.
“What we are finding is there are a lot of people making positive noises about it but it’s actually getting across the line and taking it on that’s the big question. There’s a hell of a lot of hard-working, good people in this team and we are trying to keep as many staff as possible in work.”
The team is in a unique position that if it competes in 2015, regardless of where it finishes, it will be awarded £40 million in prize money for finishing 9th, which Booth reckons is a positive for any investor.
“The ironic thing is we won’t be able to get that £40m in prize money if the dream does die. But that is the attractive element for potential investors. We managed nearly five years without that money.”
The team operates on a budget of around £60m, meaning an investor would only need to risk around £20m – which could potentially be made up through sponsorship – knowing they would be entitled to prize money at the end of the season.
