Marussia enters administration, will miss US GP

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Administrators have confirmed Marussia will miss the United States Grand Prix in Austin after being called in to oversee the running of the team just five days after Caterham entered administration. FRP Advisory LLP was appointed to administrate Marussia's trading company, Manor Grand Prix Racing Limited, on Monday. On Saturday Bernie Ecclestone told Reuters Marussia would join Caterham in missing the US race and this was confirmed to be true on Monday morning due to the lack of funds available to the team. "With the Marussia F1 Team now in administration, the joint administrators have assessed that, given the current financial circumstances of the Group, it is not viable for the Marussia F1 Team to participate in the next race, the 2014 Formula 1 United States Grand Prix, due to take place this weekend in Austin, Texas," said Geoff Rowley, a joint administrator along with fellow FRP Advisory LLP partner Geoff Carton-Kelly. "With the existing shareholder unable to provide the required level of funding, the senior management team has worked tirelessly to bring new investment to the team to secure its long term future but regrettably has been unable to do so within the time available. Therefore, they have been left with no alternative but to place the company into administration." The administrators have only confirmed Marussia will miss Austin, though it seems likely it will miss Brazil as well as freight is transported straight to Interlagos due to the back-to-back scheduling of the races. However FRP Advisory Ltd are refusing to rule out a return to the grid before the end of the current season. "Following Austin, there are two further rounds of the 2014 championship remaining, in Sao Paulo and Abu Dhabi, and the team's participation in those races will depend on the outcome of the administration process and any related negotiations with interested parties in what is a very limited window of opportunity." It comes just a week after Caterham was entered into administration and confirmed it would sit out the remaining three races of the 2014 season.