Date set for Manor F1 team's assets auction

Over 4000 items belonging to the now defunct Manor Formula 1 team will be auctioned next month.

Hopes of a last-minute rescue deal to return to F1 ended when Manor's chief Stephen Fitzpatrick notified the FIA that his outfit was withdrawing from the championship.

Manor's parent company Just Racing Services ceased trading earlier this year, with the administrators choosing to auction the team's assets to raise funds to pay creditors.

Two wind tunnel models, five steering wheels, two pop-up trailers and a hospitality trailer and pit equipment are among the thousands of items that will be on offer through auctioneers Gordon Brothers over a four-day period.

The full catalogue of the items, that will also include front and rear wings, engine covers, sidepods, wheel rims and tubs, will be available later this month with bidding end on May 16.

The administrator claimed around 50 parties had expressed an interesting in reviving the team, with learning that an offer had been made for all three Manor companies - Just Racing Services Ltd, Just Racing Ltd and Manor Grand Prix Racing Ltd.

But it failed to go through and, according to the administrators, none of the other parties "were able to provide sufficient comfort that they had the cash resources to enable the company to return to solvency".

With no investor found and no budget to pay wages for February, 150 employees were made redundant.

Further attempts were made to save the team, with rumours that Chinese investors were trying to put together a rescue deal, but hopes were finally extinguished at the start of March.

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About this article
Series Formula 1
Teams Manor Racing
Article type Breaking news