Just Racing Services Ltd, the company that operates Manor, went into administration last week after talks to find an investor broke down.

It is believed the administrators FRP Advisory LLP are talking to interested parties, with one making an offer.

According to Motorsport.com's sister publication Autosport, the offer is for all three Manor companies - Just Racing Services Ltd, Just Racing Ltd and Manor Grand Prix Racing Ltd.

Just Racing Ltd, the holding company of Manor, and Manor Grand Prix Racing Ltd, the F1 and FOM licence holder, are not in administration.

The bidder believes that to ensure the cars can be built and tested on time, a decision on the offer is required before January 20.

If that deadline lapses without confirmation, the bidder could make a revised offer but it is expected to be lower given the reduced time and increased costs required to get the team on the grid.

FRP Advisory LLP declined to comment when approached by Autosport and Manor team principal Stephen Fitzpatrick could not be reached.

The administrators of Just Racing Services Ltd have agreed to pay all staff salaries to the end of January, extending the window to save the team.

The 2017 car is ready to go into production, but parts can not be produced as the administrators have put a block on spending to protect creditors.

The new season starts in Australia on March 26.