Andy_Bangle Posted November 7, 2014 Report Share Posted November 7, 2014 (edited) Marussia will not be in Abu Dhabi and staff have been made redundant They had been in talks for two weeks (representatives were in Austin), but no-one came up with the money. Hopefully Manor F1 will pick up the staff. EDIT: Sky Sports News reporting that all staff have been made redundant. Edited November 7, 2014 by Andy_Bangle Link to comment Share on other sites More sharing options...
Ian_C Posted November 7, 2014 Report Share Posted November 7, 2014 Manor IS Marussia, surely? I thought the company was Manor Grand Prix Racing Ltd, trading as Marussia? Would seem very sad not to continue, they would be due a chunk of prize money if they finish 9th in the championship. Link to comment Share on other sites More sharing options...
Andy_Bangle Posted November 7, 2014 Author Report Share Posted November 7, 2014 (edited) BBC F1 has picked up the story: http://www.bbc.com/sport/0/formula1/29954250 Manor IS Marussia, surely? They're only a company, lets bin this company so we don't have to pay our staff and suppliers and start a new one. Edited November 7, 2014 by Andy_Bangle Link to comment Share on other sites More sharing options...
Scotty Posted November 7, 2014 Report Share Posted November 7, 2014 I hope there's no medical insurance implications for Bianchi. Link to comment Share on other sites More sharing options...
Andy_Bangle Posted November 7, 2014 Author Report Share Posted November 7, 2014 Pretty sure if there was, the F1 Community would step in. Link to comment Share on other sites More sharing options...
Ian_C Posted November 7, 2014 Report Share Posted November 7, 2014 They're only a company, lets bin this company so we don't have to pay our staff and suppliers and start a new one. Choosing to close the company - hence forfeit the prize money for 9th in the constructors - suggests a huge current debt! Someone on here (TSN) said the other day its around 40 million prize money for 9th. I don't think its anywhere near that, I get the impression its more like 10-15m? Link to comment Share on other sites More sharing options...
Andy_Bangle Posted November 7, 2014 Author Report Share Posted November 7, 2014 But when you've got debts of an estimated £30m, a prize fund of £15m isn't much help when you need another £200m+ to race in 2015. Link to comment Share on other sites More sharing options...
Ian_C Posted November 7, 2014 Report Share Posted November 7, 2014 Hence my post - I didn't know if the debt amount was public! Link to comment Share on other sites More sharing options...
NewNiceMrMe Posted November 8, 2014 Report Share Posted November 8, 2014 (edited) I have to say I find some of the false affection for F1 teams in financial hardship to be difficult to stomach. Everyone cries and sobs and says how sad it is. They've been trying to keep it running so if anyone is really upset, they should just throw them a donation. But they won't. Guess why? Because all of a sudden the people decide they only feel sorry for an F1 team when it isn't their own money going up in smoke and they go very quiet when they are asked to risk something themselves. This is just another company in liquidation. That's it. p.s. before the criticism starts, yes I feel for those that have lost their jobs. However, I also feel for the creditors that will possibly go down with them or suffer as a result. Edited November 8, 2014 by NewNiceMrMe Link to comment Share on other sites More sharing options...
patently Posted November 8, 2014 Report Share Posted November 8, 2014 I don't think the affection is false, MrMe. I think there is a genuine sadness when a team has to give up. But when you tell people that they need £200M for the next season, I don't think most people have that kind of money. Caterham's effort at crowd funding is interesting, and might change things. Anyway, speak for yourself, I've been throwing money at the Caterham parts department for years now. It's not my fault they're different companies. Link to comment Share on other sites More sharing options...
patently Posted November 8, 2014 Report Share Posted November 8, 2014 (but I agree 100% re the creditors...) Link to comment Share on other sites More sharing options...
NewNiceMrMe Posted November 8, 2014 Report Share Posted November 8, 2014 I don't think the affection is false, MrMe. I think there is a genuine sadness when a team has to give up. But when you tell people that they need £200M for the next season, I don't think most people have that kind of money. Caterham's effort at crowd funding is interesting, and might change things. Anyway, speak for yourself, I've been throwing money at the Caterham parts department for years now. It's not my fault they're different companies. There is sadness, but how many people are prepared to counter it with something that would prevent it? Very few. The evidence of that is in the liquidation. I think it is entirely different for the likes of yourself though. You do contribute through participation (although your lack of destruction this season compared to last is probably costing them dearly. ). My point was that, as with other sports (because it certainly isn't just restricted to F1), people show lots of emotion yet little in the way of action - and nor do I blame them. The only sport in which 'fans' seem to be prepared to dip into their pockets to help out is, somewhat ironically, the one that gets the most criticism - football. Look at Portsmouth and a mass of others where fans have thrown money in and they know they'll get almost nothing out - except the joy of seeing their team survive. In F1 the numbers are so huge that I cannot see crowd-funding even touching the surface in the mid to long term. Link to comment Share on other sites More sharing options...
Scotty Posted November 8, 2014 Report Share Posted November 8, 2014 (edited) Sponsoring an F1 team when you also witness the high life that many enjoy would actually wind me up. When the drivers are coining it and drinking the best champagne you'd potentially begrudge giving up your hard earned cash to feather an already well feathered nest. Now I totally get than many involved don't get those perks and I also get the drivers have often (at least traditionally) had to sacrifice everything to get there but I can see why it's not an attraction to many. Personally I'd rather support someone on their way up e.g. http://www.crash.net/wss/news/210312/1/danny-webb-calls-on-fan-support-for-wss-bid.html Edited November 8, 2014 by Scotty Link to comment Share on other sites More sharing options...
NewNiceMrMe Posted November 8, 2014 Report Share Posted November 8, 2014 When I look at the Brabham crowd-funding attempt I simply can't grasp why anyone would donate. Access to a web app? A 'classy metal pen'. The rewards have got to be secondary if you're going to buy-in because their attempt is one of the worst I have ever seen in terms of what the contributors get back. Link to comment Share on other sites More sharing options...
SeanKHotay Posted November 8, 2014 Report Share Posted November 8, 2014 ...and yet Caterham in two days has double the donations of Brabham with only 6 days left... Link to comment Share on other sites More sharing options...
NewNiceMrMe Posted November 8, 2014 Report Share Posted November 8, 2014 ...and yet Caterham in two days has double the donations of Brabham with only 6 days left... I'm not so sure that is a case of '...and yet' but more perhaps evidence of how utterly crap the Brabham offering is in respect of what a contributor gets. That was one of my main points about the Brabham proposal. Link to comment Share on other sites More sharing options...
Ian_C Posted November 8, 2014 Report Share Posted November 8, 2014 Choosing to close the company - hence forfeit the prize money for 9th in the constructors - suggests a huge current debt! Someone on here (TSN) said the other day its around 40 million prize money for 9th. I don't think its anywhere near that, I get the impression its more like 10-15m? Jordan reckons (BBC quali highlights) it could be as much as $65m!! Link to comment Share on other sites More sharing options...
Andy_Bangle Posted November 9, 2014 Author Report Share Posted November 9, 2014 The future of Force India has been called into question by its auditors after it posted a loss of £38.5million in its latest accounts how long can Vijay Mallya keep pumping cash into it? Link to comment Share on other sites More sharing options...
Andy_Bangle Posted November 9, 2014 Author Report Share Posted November 9, 2014 Formula 1 CEO Bernie Ecclestone tells Eddie Jordan that Formula 1 teams "will come and go" following Marussia and Caterham's falls into administration. 'If the teams want their money then the have to turn up in Abu' Referring to Eddie Jordan's own grand prix team, Ecclestone says he misses "proper people" running businesses in Formula 1 and believes some smaller outfits have been punished for spending beyond their means. (not sure how long this video will stay up). http://youtu.be/7gmy80CaYIY Link to comment Share on other sites More sharing options...
garcon magnifique Posted November 9, 2014 Report Share Posted November 9, 2014 Jordan reckons (BBC quali highlights) it could be as much as $65m!! I think that includes the bonus for three years in the top ten. Trouble is, that wouldn't cover half their real debt. Link to comment Share on other sites More sharing options...
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