Failed return cost Marussia

Marussia’s attempts to return to the 2014 F1 grid were scuppered when a key investor withdrew at the last minute, leaving the beleaguered team with more debt.

Like fellow backmarker outfit Caterham, the financially-strapped Marussia team had hoped to return to the Formula 1 grid for the final race of the 2014 season in Abu Dhabi.

As team personnel made their way to the airport for the flight, they were called back when a key investor withdrew support at the very last minute.

Not only did this bring an end to Marussia’s hopes of remaining in Formula 1, but it also cost the team almost ??30,000.

“On Tuesday 18 November 2014, I received a commitment by a prospective investor to inject sufficient cash into MGPR to enable the team to race in Abu Dhabi,” Geoff Rowley, one of the joint administrators at FRP, told Forbes.

“To enable this to happen, the race team had to be reformed and arrangements made to travel to the race. A significant amount of work was carried out over a 24 hour period by both MGPR’s staff and the joint administrators; however, ultimately the prospective investors were not able to provide sufficient funds.

“The prospective investor agreed to pay the costs of the staff (and ancillary costs) in this period, although at the date of this report, these total ??29,443 and remain unpaid.”

That, though, is a drop in the ocean given that Marussia reportedly owe $48.1 million to their creditors.

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