Former Marussia sporting director Graeme Lowdon says "it's still certainly possible" for the team to make it to the grid for the Australian Grand Prix.

Marussia went in to administration after the Russian Grand Prix in 2014 and ceased trading a few weeks later, with a number of auctions having already taken place to try and pay off some of the team's debts. However, with Manor Grand Prix still holding the F1 entry, Lowdon insists there is still a chance that the team can be saved.

"Technically it's possible," Lowdon told Sky Sports. "Manor have been in motor racing for a long time. It's a very precious team and means a lot to a lot of people and a lot of fans as well. We're working very, very hard - it' not easy - it's still certainly possible for the team to get there and I think it would be good news for Formula One and it would be good for our fans.

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"It's a very precious and special thing when you are involved in the team so it's not something you want to let go very easily."

With more of the team's assets set to have been auctioned off on Wednesday, Lowdon admitted it would see many key items sold, but that auction has since been postponed.

"There have been some auctions already but none of the equipment that has been sold so far is essential for the team to go forward. So that means it's still possible. Of course if that equipment went next week then it would be difficult but it's certainly still possible."