Formula One’s Manor Racing Facing Closure

F1 side Manor Racing are at serious risk of closure after its operating company were placed into administration following a failed takeover approach.

The directors of Manor Racing have placed Just Racing Services into administration. The news comes as extended negotiations with an Asian investment group failed due to probable impact on the team’s 2017 schedule.

Manor finished bottom of the 2016 F1 Constructors’ Championship, with Sauber overtaking them on the season’s final day. This position cost Manor around £10m in prize money, which ultimately has made their financial position untenable for future seasons.