The situation of the Manor has become agony after communicate the team Friday that the company that manages Manor F1 passed into the hands of a third party administrator to try to find enough money to keep going.
In practice, Manor sits in bankruptcy and only if the new administration finds investors, will be able to compete in 2017. So it recognizes its owner, the british Stephen Fitzpatrick, which recognizes that “the decision to leave the team in the hands of the management accounts for a disappointing final two years of travel of the Manor”. Fitzpatrick reveals that there was a verbal agreement with the investors asians, but at the last minute he balked, leading to the current situation. “a Large part of the past year, we have spoken with several groups of investors and had agreed to finally terms of the sale with a consortium of asian investors in December. This would have given the team a solid platform for further growth and development. Unfortunately we ran out of time before they could complete the transaction. Andthat we do not want to repeat past situations, we conclude in 2015 not to start any season that we did not know that we could complete safe, so we have taken the difficult decision to put the company, which operates with the computer in management”, said Fitzpatrick in a statement to Motorsport.
Fitzpatrick recognizes that the achievement won by Felipe Nasr in the Grand Prix of Brazil, who finished ninth and, therefore, gave Sauber the two points needed to finish in front of Manor on the tenth place in the constructors ‘ championship, smote death to the team and their aspirations of finding a new investor. “When I bought the team in 2015, the challenge was clear, it was imperative that the team finish in tenth place or better in 2016. During a large part of the season, we were on the way, but the race drama in Brazil ended with our hopes of this result and had doubted the team’s ability to compete in 2017”, said the british entrepreneur.
Felipe Nasr, who will lose his seat at the hands of Pascal Wehrlein in the Sauber, I had hopes of getting one of the seats of the Manor for 2017 and, ironically, his exceptional career of Brazil could leave out of the Formula 1.