Two weeks after being placed into necessary administration, no solution could be found to save the team. The team has therefore closed its doors and the 200 employees were laid off.<\/p>\n
During its administration, the goal was to be present in Abu Dhabi to finish the season. Thus, Graeme Lowdon, the team’s general manager, was in Austin to try to find new owners.<\/p>\n
Hope seemed to be in the air again yesterday as the FIA decided to release a provisional list for the 2015 season, which included the team under the name Manor. These hopes were quickly dashed, through a statement from the team’s administrator, Geoff Rowley: \u00ab Even though the team made significant progress during its relatively short period of existence, running an F1 team requires substantial investment. The group entered administration last month following a decrease in its recurring funding, and the administration process provided a bit more time to attempt to find a viable long-term solution within a relatively limited timeframe. Unfortunately, no solution could be found to allow the business to continue operating in its current form. \u00bb<\/p>\n
Consequently, it has been decided that the team will not make its return this season and will not be present in Brazil or the United Arab Emirates: \u00ab The team will not participate in the upcoming championship races in 2014, in Sao Paulo and Abu Dhabi. The administrators will continue their duties in order to dispose of the company’s assets in the best interest of all creditors. \u00bb<\/p>\n
This decision has a direct impact on the stable’s employees. Indeed, they have been made redundant since their employer no longer exists. Therefore, more than 200 people are now without jobs: \u00ab As administrators, our priority is to assist the employees who have lost their jobs and provide them with the necessary support to submit their application [to the UK Job Centre]. \u00bb<\/p>\n
This news might interest Gene Haas, who is specifically looking for experienced personnel and an operational base in Europe. In any case, this bankruptcy is really regrettable as the team was experiencing the best season in its history, with the feat achieved by Jules Bianchi who finished in the points on the streets of Monaco.<\/p>\n
This, however, will delight Sauber and Caterham, who both gain a place in the Constructors’ Championship. This puts them in the valuable top 10, which is so lucrative in the distribution of the profits generated by F1…<\/p>\n