(Marussia F1 Team via Twitter)
The Marussia Formula One Team's future in the sport is secure despite the fact that the closure of its parent company Russia's Marussia Motors.
The Russian sports car manufacturer bought a majority stake in what was the Virgin Racing team at the end of 2010 and has been involved in Formula One every since. In a statement the Banbury based team said:
'The news is unfortunate for those concerned and we wish its employees well for the future, the spokeswoman went on to say: 'The supercar project was ambitious but it is disappointing that it was unable to get to market'
The Marussia F1 team is now controlled by Marussia Communications limited and is a completely separate operation from the car company.
Marussia have been involved in Formula One since 2010, when the Manor GP2 team made the step up to the pinnacle of motorsport with the backing of Sir Richard Branson and his Virgin Group. The team were rebranded Marussia in 2011.
The Ferrari powered team retook 10th place in the Constructor's championship from the Caterham F1 Team at last weekend's Bahrain Grand Prix after Max Chilton came home in 13th place and by doing so the Englishman has now completed 22 GrandPrix which is every race since the start of last season and every race of his Formula One career.
©Ben Johnston 2014