Marussia’s Graeme Lowdon insists they will still race in F1 despite car company folding

Marussia sporting director Graeme Lowdon has eased fans' fears by insisting it is business as usual despite the collapse of the car company behind their name.

Marussia Motors, a manufacturer of sports cars, recently folded, but its demise has had no effect on the Banbury-based Formula One team.

'We don't really know an awful lot about the car company, other than – as we understand it – they have cut costs and let staff go,' Lowdon told Press Association Sport.

'Contrary to some reports we've never been owned by the car company.

'We've a common shareholder in Andrey Cheglakov, a shareholder in the car company and a major shareholder in the F1 team.

'Although there is obviously a marketing link, beyond that there is no direct impact on us at all.

'Financially we're fine, or as much as a Formula One team can be!'

Lowdon does not feel there is likely to be a change in team name either, adding: 'As it stands at the moment there is no plan to change.

'The whole Marussia concept goes beyond a car business, and we've not had any approach from Andrey to suggest otherwise at present.

'So it's business as usual.' Mail Online