End of the road for Marussia F1 team as Brazilian Grand Prix practice starts
The British-based Marussia Formula One team were shut down yesterday, with some 200 staff told the company had ceased trading and they were being made redundant.
Administrators FRP Advisory, based in London, said the team had "no sustainable operational or financial structure in place to maintain the group as a going concern".
"The joint administrators have now ceased trading Marussia F1 Team and, unfortunately, have had to make the remaining staff redundant," it added.
It makes me very sad because Marussia had a good group of people, real racers and they have gone through lots of dramas
The staff members, whose hopes might have been raised by the team appearing on a provisional entry list for the 2015 championship earlier in the week, were told in a long and emotional meeting just after midday yesterday.
The news broke in the Brazilian Grand Prix paddock as the nine teams were lapping the Interlagos circuit in first practice.
"It makes me very sad because Marussia had a good group of people, real racers and they have gone through lots of dramas," Mercedes motorsport head Toto Wolff said.
"What is really frustrating is the personal situation of some of the guys who were involved in the team, who believed."
The Ferrari-powered team, with the smallest budget, went into administration last month and missed last weekend's US Grand Prix in Texas and this week's in Brazil. Caterham are also in administration and seeking a buyer.
Both teams entered the world of F1 in 2010, encouraged by promises of a cost cap that never materialised.
