Marussia fold while Caterham appeal to fans

Fri Nov 7, 2014 2:30pm EST
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By Alan Baldwin

SAO PAULO (Reuters) - Caterham urged Formula One fans to dip into their pockets for funds to keep the stricken team on the road on Friday while rivals Marussia went out of business after the agony of administration.

One a day of domination by Mercedes title rivals Nico Rosberg and Lewis Hamilton in Brazilian Grand Prix practice, the parlous finances of those at the slower end of the grid again provided a big talking point.

Marussia and Caterham are absent at Interlagos after going into administration last month and the former will not be seen again after losing a race against time to find new investors and stay in business.

Administrators FRP Advisory said the team had ceased trading with some 200 staff at the factory in central England informed at an emotional lunchtime meeting they were being made redundant.

A statement added the closure was due to the team having "no sustainable operational or financial structure in place to maintain the group as a going concern".

The news left British driver Max Chilton out of a job, a predicament that bears no comparison to that of his French team mate Jules Bianchi who is still fighting for his life in a Japanese hospital after an horrific crash last month.

Mercedes motorsport head Toto Wolff, whose team are among the wealthiest, regretted the exit of "a good group of people, real racers".

Marussia were ninth overall before being forced off the road by financial woes and would have been in line for a substantial increase in revenues in 2015 had they been able to keep going.   Continued...

Caterham Formula One driver Kamui Kobayashi of Japan waves as he negotiates a corner during the qualifying session of the Japanese F1 Grand Prix at the Suzuka Circuit October 4, 2014.  REUTERS/Toru Hanai