Marussia plays down Lloyds exit

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Andy Webb has denied that this transaction is bad for Marussia team

Apr.24 (GMM) Marussia has played down the impact of the withdrawal of a team co-owner.

Jules Bianchi, Marussia F1 Team MR02 leads team mate Max Chilton, Marussia F1 Team MR02
Jules Bianchi, Marussia F1 Team MR02 leads team mate Max Chilton, Marussia F1 Team MR02

Photo by: XPB Images

It emerged this week that Lloyds, the part government-owned British bank, has sold its 25.3pc stake due to huge losses and the team's lack of results.

A spokesman told F1 business journalist Christian Sylt and the Telegraph newspaper that Marussia, the Russian carmaker, bought the Lloyds stake.

Chief executive Andy Webb denied the move is bad news for the Marussia team.

"In terms of stability, the team is now in its strongest position since it was founded in 2009," he is quoted by the Express newspaper.

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Series F1
Article type Breaking news
Tags f1, gmm, lloyds, marussia

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