Marussia’s last gasp for air, auction of cars on hold

As we trudge closer to the start of the 2015 Formula 1 season, the Marussia F1 team may have one last gasp of air in order to find a new owner and field a car in Melbourne Australia.

According to Reuters, the team were set to auction off their 2014 cars, spares and race equipment Wednesday but that has been put on hold to allow for further talks with a prospective buyer.

The team is in administration and according to FRP Advisory, the talks will proceed this week:

“Given the confidential nature of the negotiations underway we are unable to provide further details,”

It may be good news but it seems that the potential buyer has just recently come to the table according to team principle, john Booth who said the talks were:

“at a fairly advanced stage with a new investor, a credible investor.

“Postponing the auction gives us a bit more time to explore it,”

As the article points out, the team do owe a significant amount of money to creditors both secured and unsecured and Ferrari are a major one given the $25.15 million they are owed for supplying engines. The big question might be the details of fielding the car—which now sit in Abu Dhabi—for the Australian Grand Prix.

Who would supply engines and would it be a case of simply re-using the 2014 cars and engines to get the season going? Booth says it would be a fairly straightforward deal to get them ready for Australia but it does present a host a challenges for the rest of the F1 calendar.

Hat Tip: Reuters

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