Formula One 2014

[Lineker]

BERNIE ECCLESTONE GIVES SPECIAL DISPENSATION TO CATHERHAM TO MISS THE NEXT TWO GRAND PRIX WHILE THEY FIND A BUYER

Caterham is now almost certain to miss the United States and Brazilian Grands Prix as its administrators focus on finding a new buyer for the Formula 1 team.

Although a final decision about its plans has not yet been taken, the administrators revealed on Friday that it had been given dispensation by F1 supremo Bernie Ecclestone to miss the events in Austin and Interlagos so it could work on securing its future.

After the previous management team led by Engavest and its representative Colin Kolles decided to step aside on Friday, administrators Smith & Williamson took over control of the outfit.

In a statement issued on Friday afternoon, it said that the move - which has included a deal to take over shareholding of the team - should boost the team's chances of finding a buyer that can keep it going.

The statement said that administrator Finbarr O'Connell had spoken to F1 supremo Bernie Ecclestone to seek his support in moving things forward, and had been told it could miss the next two events.

The statement said: "In a telephone conversation today between Finbarr O'Connell and Bernie Ecclestone, Mr Ecclestone agreed to support the administrators in their wish to sell the Formula 1 team to a party with the financial strength to sustain it into the future.

"Mr Ecclestone also agreed to give dispensation to Caterham F1 such that it could if necessary miss the US and Brazilian Grands Prix but hoped that a new owner would be in a position to race the team at the Abu Dhabi Grand Prix."

Smith & Williamson claims that there are a number of parties interested in buying the team and it was hopeful a deal could be concluded in the next few weeks.

O'Connell said: "We believe this arrangement gives us a much better chance of being able to reach a better conclusion for the racing team and its creditors.

"While this is a great step forward in making the whole team and assets more attractive, there is no need for the staff of 1MRT to return to the Oxford site in Leafield until a sale of the Formula 1 team occurs.

"This is a difficult situation which is not of our making. We regret any personal impact on 1MRT's employees. As administrators for CSL, we are seeking to maximise the outcome for its creditors and other stakeholders."

[Chris2K]

Marussia are missing the US Grand Prix for financial reasons as well, so we'll have just 18 cars on the grid. That's not enough.

[Lineker]

Man, that ninth place prize money cannot come soon enough for them. Hopefully Marussia get new owners sooner rather than later, great little team.

Also, poor Alex Rossi just can't catch a break!

[Gazz]

Three car teams are looking more likely.

[Lineker]

I'm just hoping that these Audi/Alonso 2016 rumours are true...

[Lineker]

Marussia will definitely not compete in this weekend's United States Grand Prix, administrators appointed to oversee the Formula 1 team have confirmed.

FRP Advisory LLP was appointed to administrate Marussia's trading company, Manor Grand Prix Racing Limited, on Monday.

With a lack of funding available to justify continuing racing the firm felt it best Marussia sits out the Austin event.

Geoff Rowley, joint administrator, said: "With the existing shareholder unable to provide the required level of funding, the senior management team has worked tirelessly to bring new investment to the team to secure its long term future.

"But regrettably has been unable to do so within the time available. Therefore, they have been left with no alternative but to place the company into administration."

FRP said that Marussia would continue to operate while it looks at longer term options for the company, and that no redundancies had been made.

The statement added: "Following Austin, there are two further rounds of the 2014 championship remaining, in Sao Paulo and Abu Dhabi, and the team's participation in those races will depend on the outcome of the administration process and any related negotiations with interested parties in what is a very limited window of opportunity.

"No redundancies have been made following the company's entering into administration and all staff have been paid in full to the end of October. The ongoing staff position will however be dependent on whether the company can secure new investment in the limited time available.

"We remain highly focused on engaging with interested parties."

Marussia's absence from the United States GP means there will be only 18 cars on the grid, with Caterham having also gone into administration last week.

It will be the smallest grid since the 2005 Monaco Grand Prix, when BAR was forced to sit out the weekend as punishment for a rules infringement relating to its fuel tank.

hopefully someone will buy them - the debt will only be around £20m or so after the prize money comes in (provided they stay 9th) and there are already a couple of parties rumoured to be interested.

[EddieG]

A smaller grid than the Indy race from that year?

[Adam]

Was that the one where literally every team boycotted the race except those on Bridgestone tyres, which conveniently left only Ferrari and the two worst teams on the grid by a mile, Jordan and Minardi?

[EddieG]

Yup.

[Gazz]

They only need another five teams to drop out to secure a Ferrari win this time.

Probably.

[Lineker]

Was that the one where literally every team boycotted the race except those on Bridgestone tyres, which conveniently left only Ferrari and the two worst teams on the grid by a mile, Jordan and Minardi?

Smallest proper race since Monaco '05 when BAR were banned from entering.

[JasonM]

Very interesting read from Will Buxton, talking about the demise of Caterham/Marussia, and also about the current financial state and workings of Formula 1.

http://willthef1journo.wordpress.com/2014/10/26/nothing-lasts-forever/

[Chris2K]

I've touched on it before but 18 cars just doesn't feel like a grand prix. I know you all hate the idea of three car teams but I still think it's a good idea purely for the spectacle of it.

Interesting to see if they alter qualifying at all, I'd be all for two sessions (8 go out in the first, then top 10 shoot-out) but I guess they have to fulfil the hour timeslot so will have less cars going out in the first two sessions or less cars in the final session.

[MJB]

Marussia will also miss the Brazilian GP.

Wonder what will happen with Q1 in Austin? There will only be 18 cars taking part, maybe even 17 if the Vettel/Pitlane start stuff turns out to be true. Will they just eliminate one or two cars in Q1? Or will they split it with Q2?

[JasonM]

The Qualification system is in place to always have three quali sessions with a 10 car shootout in Q3.

So where it was 6-6 in Q1&2 before, it will become 4-4 in Q1&2 in America/Brazil(/Abu Dhabi?)

So Q1 will be 18, Q2 will be 14, and Q3 will be 10 like usual.

Edited October 27, 2014 by Jasonmufc

[Carlos Carvalhal]

Was that the one where literally every team boycotted the race except those on Bridgestone tyres, which conveniently left only Ferrari and the two worst teams on the grid by a mile, Jordan and Minardi?

Tiago Monteiro's podium celebrations at the end of that "race" were pure gold. Schumacher and Rubens couldn't wait to get off the podium but Monteiro stayed to soak up the adulation of the fans.

Also, massive shame for Marussia. Wonder if Gene Haas will reconsider his plans for 2016 given what's happened to the three newer teams in recent years?

[Lineker]

Nah, I can't see Haas pulling out. As for Forza Rossa, who knows?

[JasonM]

Like James said, Haas won't be pulling out because he's already secured a very safe deal being Ferrari's Toro Rosso. Forza Rossa I have heard absolutely nothing about, and the less I hear about them the more I start to think they're becoming the Romanian USF1.

[Lineker]

This is their extensive Wikipedia entry currently:

Forza Rossa Racing is a Romanian motor racing team with ambitions to compete in Formula One from 2015 onwards. The parent company, Forza Rossa (from Italian, meaning "Red Force"), is a Bucharest-based importer of road cars. The entire project will be privately funded.

[Lineker]

Jules Bianchi's condition remains unchanged, with the French Formula 1 driver remaining critical but stable according to his family.

Bianchi is still in hospital in Japan after his horrific crash during the Japanese Grand Prix nearly four weeks ago.

Although the family admitted there was no new information to offer, a statement issued by the Marussia team said he continued to fight, even if his condition remained critical.

The family stated once again how grateful it was for the support received since the accident.

"It will be four weeks this coming Sunday since Jules' accident and he remains in the Mie General Medical Center in Yokkaichi," said the statement.

"His condition continues to be classified by the medical professionals here as critical but stable.

"Although we have no new information to give, we recognise that there are a huge number of people all around the world who are supporting Jules and willing him on in his fight.

"We owe it to his many fans to acknowledge the continued outpouring of messages, and to provide some information, however brief it may be."

The statement underlined that there were currently no plans for Bianchi to be moved from the hospital in Japan.

"Jules does indeed continue to fight. Although there have been some reports suggestive of plans for Jules' treatment, at this time his fight will continue here in Yokkaichi. We are taking things step by step.

"Once again, we would like to offer our sincere appreciation for the patience and understanding being shown towards our family at this very difficult time.

"We also continue to be comforted by the knowledge that Jules is receiving the best possible care at the Mie General Medical Centre, with the doctors here remaining in constant contact with the neurosurgeons at the University La Sapienza of Rome, and Professor Gerard Saillant, president of the FIA Medical Commission.

"We will provide a further update when it is appropriate to do so. In the meantime, thank you to everyone who continues to keep Jules in their thoughts and prayers."