Marussia administrators in 'serious talks' with one group about a possible takeover

Sky Sports News HQ understands that Marussia administrators are in “serious talks” with one group about a possible takeover.

On Friday, the administrators confirmed the team were to be wound up with around 200 staff being made redundant.

However, it is hoped the team can still take part in the season finale in Abu Dhabi if they can raise between £3 million and £5 million by the end of the week, with time to ship the cars and parts to the Yas Marina Circuit ahead of the race on November 23rd.

Sky Sports News HQ understands that talks are ongoing with an unnamed group about a proposed takeover.

Speaking to Sky Sports F1 ahead of Sunday’s Brazilian GP Graeme Lowdon, who was President and Sporting Director of the Banbury outfit, insisted: “I don’t feel like there’s no way back. We’re very competitive people and we’ll keep fighting until there’s absolutely no chance at all.

“At the moment there’s still very much a chance that we can compete in 2015 and beyond and indeed in Abu Dhabi.”

The team was born out of successful junior formula team Manor Competition, but has run under the Virgin Racing and Marussia banners according to their backers.

Manor F1 Team have been included on the provisional 2015 F1 entry list published ahead of the Brazilian GP.