The hopes that Manor could be rescued ahead of the 2017 season have vanished, as the team officially withdraws from the 2017 Formula One season. The team’s parent company entered administration and ceased operations last month.
With no investors in sight, Just Racing Services closed at the end of January, despite having the 2017 car designed and ready for production. The closure left an estimated 212 employees searching for work, although the administrators promised to assist these employees.
Just Racing Services was the parent company responsible for the operation of the team. However, Manor Grand Prix Racing was the legal entity that held the entry into Formula One and it was not placed under administration and retained its entry into the 2017 season. This meant that a potential buyer could have still purchased the team and made a late entry into the sport.
Rumors that the Chinese investors linked with the Manor WEC team were attempted to form a Formula One rescue deal to save the outfit emerged in the recent weeks. However, it appears that a deal was not struck. The owner of the team, Stephen Fitzpatrick, has written to the FIA to announce that the team would be withdrawing from the sport.
This exit means that, if a buyer were to purchase what is left of the team, they would need to reapply for a Formula One entry, which is both a timely and costly process.
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Manor Now Under Administration
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Manor Future In Doubt Once Again
