Marussia F1 May Still Be Saved Through Last-Ditch Rescue Deal

Despite entering administration last October with £31 million of debt, Marussia F1 boss John Booth remains hopeful that the plucky team can make the 2015 grid.

Some of the team’s assets were recently put up for sale, but a second auction - which was due to to take place on January 21 - to sell Marussia’s 2014 cars has been cancelled.

Marussia administrators FRP Advisory said Wednesday’s auction has been called off “to allow for discussions to continue with a third party”.

Marussia remains on the FIA F1 2015 entry list, subject to confirmation, as Manor Grand Prix. Team boss John Booth told the BBC that it was “at a fairly advanced stage with a new investor - a credible investor”.

He added that “postponing the auction gives us a bit more time to explore it”. When asked what the confidence is like within the team to get a rescue deal sorted out, he replied: “Pretty high.”

However, Booth also admitted that the deal was “very complicated” and the agreement needs to be completed “in the next couple of weeks”.

It will be a busy and difficult month or so for Marussia, but there is still some hope that the team will return to the grid this season.