20 Feb 2015

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Marussia revs closer to 2015 grid slot

ALAN BALDWIN
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<b>GLIMMER OF HOPE:</b> Marussia, reborn under the name Manor GP, hopes to race in 2015 provided the team can prepare its new car and resolve its financing. <i>Image: AFP / Alexander Nemenov </i>
<b>GLIMMER OF HOPE:</b> Marussia, reborn under the name Manor GP, hopes to race in 2015 provided the team can prepare its new car and resolve its financing. <i>Image: AFP / Alexander Nemenov </i>

LONDON, England - Marussia moved a step closer to returning to the Formula 1 grid on Thursday (Feb 19 2015) after creditors approved a move allowing it out of administration.

Administrators FRP Advisory said a "company voluntary arrangement" agreed to allow control of Manor Grand Prix Racing, which traded as Marussia F1, to be passed back to its directors.

It said: "The financial restructuring creates a platform for the company to continue with its plans to participate once again within Formula 1."

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