Marussia in talks with 'credible' investor

(© Ben Johnston 2014)

The Marussia Formula One Team are ‘in fairly advanced stages with a new investor, a credible investor’ according to Marussia boss John Booth.

The news comes after a second auction scheduled to take place this week to sell off further assets belonging to the team has been postponed. It is unclear whether or not the postponement is as a result of the discussions with the potential new investor.

The news of a potential new investor comes just one day after the team’s Sporting Director Graeme Lowdon stated that he is confident that the team will be on the grid this season.

If a deal is indeed put in place the new investor would firstly have to locate a new premises for the team after its Banbury facility was bought by the Haas F1 Team late last year and have already moved into the base.

Booth told the BBC that the negotiation process is very complicated  but the fact that the auction has been cancelled indefinitely means that the team have more time to get the deal put together. According to the BBC, the team's 2014 cars are stuck in Abu Dhabi however Booth has stated it would be very easy to get the cars prepared for the opening Grand Prix of the season in Melbourne, Australia.

The team would have to get special permission from the World Motorsport Council that would enable them to race with last years car.

© Ben Johnston 2015