MOSCOW (Sputnik) – The British Manor Racing team decided to withdraw from the 2017 Formula One championship over financial problems, media reported on Wednesday.
Manor's chief Stephen Fitzpatrick wrote a letter to the International Automobile Federation (FIA) notifying about the team’s withdrawal, the Autosport media outlet reported.
In recent weeks there were rumors that Chinese investors were trying to solve financial problems of the team but the attempts have reportedly failed.
The first name of the team, created by the Manor Motorsport company in 2010, was Virgin Racing. In 2012 – 2015, it was renamed to Marussia after the Russian company Marussia Motors bought a controlling interest in the team. All six years the organization had been facing severe financial problems.
The new season of Formula One will start on March 26 in the Australian city of Melbourne.
