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Formula One to lose 1 team from the grid

It's looking increasingly likely that the 2017 Formula One World Championship will have not only one less race, but one less team.

The 2017 Formula One World Championship will see 20 races on the calendar and unfortunately is now looking likely to have just 10 teams.

That's because Manor F1 have entered administration.

Manor F1 owner Stephen Fitzpatrick and the owner of the Ovo energy company, called in administrators FRP Advisory on Friday.

No redundancies have been made as yet and all staff have been paid in full to the end of December, but all of their jobs are now on the line, especially as there is such a short window for the administrators to find a buyer for the team.

The teams financial troubles are a direct result of being beaten by Sauber to 10th place in the F1 constructors championship, a position they held until the Brazilian Grand Prix when Sauber leapfrogged them with just one race of the season to go.

That drop in standings cost the team around 11million.

'When I took over the team in 2015, the challenge was clear; it was imperative that the team finish in 10th place or better in 2016, For much of the season we were on track. But the dramatic race in Brazil ended our hopes of this result and ultimately brought into doubt the team's ability to race in 2017.' Fitzpatrick told Sky Sports.

The administrators said in a statement: ''The 2017 season commences on 26 March in Melbourne, Australia, and the team's participation will depend on the outcome of the administration process and any related negotiations with interested parties in what is a very limited window of opportunity.








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The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Monday January 9 2017

Time: 12:00PM

 

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