Sunday, 1 March 2015

Northern Irish energy boss behind Manor rescue

(© Ben Johnston 2015)

Stephen Fitzpatrick, founder of energy firm Ovo has been revealed as the main investor behind the rescue of the Marussia/Manor F1 Team.

Justin King the former head of Sainsbury’s is also involved in the rescue package will help run the team but is not an investor. Fitzpatrick has reached agreements with the Manor F1 Team’s two main creditors Ferrari and McLaren which will see the partnerships continue into 2015.

In Barcelona last week Ferrari Team Principal Maurizio Arrivabene confirmed that the Italian manufacturer will supply the team with 2014 power units.

According to insiders close to the team the 2015 specification Manor F1 car is complete and will undergo the mandatory FIA crash tests on Tuesday before the cars and freight are sent to Melbourne for the opening race of the season at the end of next week.

Fitzpatrick was originally hoping to invest in a Formula E team however when the opportunity arose to get involved with the Formula One team he jumped at it.

© Ben Johnston 2015

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