Rumor Rating Description
A rumor rated as 'speculation' is one that has no supporting information
A rumor rated as 'strong' is one where we received information from more than one source.
A rumor rated as 'fact' is one that has proven to be true
A rumor rated as 'false' is one that has proven to be false based on new information
These rumors are just that, RUMORS, and are not to be taken as 'fact' unless so noted.  Please visit our Hot News page for news.  If you have a rumor, or can supply more information about one listed here, e-mail us with as much supporting information as possible and we may post it. User Agreement and Disclaimer. Newer rumors supersede older ones of the same topic.  Go to our forums to discuss any rumor.
for your iPhone
for your iPad

2018 NASCAR Silly Season Page | 2018 F1 Silly Season Page | 2018 IndyCar Silly Season Page

Go to our forums to discuss this news
DATE News (chronologically)
Marussia F1 team could go belly up UPDATE (GMM)  Marussia is in "talks with potential investors" after recording a $79 million loss last year, the business journalist Christian Sylt reports.

Writing in the Guardian, Sylt quoted the backmarker F1 team's chief executive Andy Webb as saying bosses are "in active discussions with potential new investors", and also seeking new sponsorship deals.

Webb added that some of the talks are "well advanced although not yet completed, so the outcome of each remains uncertain".

He said the team's costs had risen because of "significant investment in the team's personnel, infrastructure and factory".

Sylt estimated Marussia's value at about $72 million, and said the team owes $125 million in loans.

The team is however expected to reap millions in Concorde Agreement income, if it can maintain its lucrative tenth place in the 2012 constructors' points standings.

10/31/12 Marussia, the F1 team 29.4% owned by Lloyds Banking Group, "is in talks with potential investors to keep its wheels turning after making a £49M ($78.9M) loss last year. Team CEO Andy Webb said directors were "in active discussions with potential new investors in the business and also pursuing other sources of income including potential sponsorship." The Sheffield-based team joined F1 in '10 and "is likely to be valued at about £45M ($72.6M) -- about a quarter of F1's only listed team, Williams."

A disastrous start in '10 "hit the team's finances the following year."

Turnover -- mainly derived from sponsorship and prize money -- "declined 5% to £28.6M ($46.1M) in the year to Dec. 31, 2011." However, the team's costs rose 11% to £70M ($112.7M), and in turn this widened its net loss by £11 ($17.7M). Webb puts the increase in costs down to "significant investment in the team's personnel, infrastructure and factory."  Guardian
Rumors Archives
2000 2001 2002 2003
AutoRacing1 Inc. BBB Business Review

Search Rumors
Search Help

Banner 10000012