Marussia follow Caterham into administration

 The Marussia Formula One team have followed rivals Caterham into administration, administrators FRP advisory said in a statement on Monday.

Marussia follow Caterham into administration

London: The Marussia Formula One team have followed rivals Caterham into administration, administrators FRP advisory said in a statement on Monday.

Neither team will be competing in this week`s U.S. Grand Prix in Austin, Texas, leaving just nine teams and 18 cars on the starting grid.

"With the existing shareholder unable to provide the required level of funding, the (Marussia) 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," said FRP`s joint administrator Geoff Rowley.

"Therefore, they have been left with no alternative but to place the Company into administration."

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