The Manor F1 Team has confirmed it will be present at next weekend's season-opening Australian Grand Prix via its Facebook page.

Held together after entering administration as Marussia at the end of last season, the team has returned from the brink. Manor will use an interim F1 car with a Ferrari power unit to meet the 2015 technical regulations. The car is expected to undergo FIA regulation crash tests and safety checks in the coming days before it can be officially allowed to race in Melbourne.

The team also announced a new car will then be introduced later in the year.

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President and sporting director Graeme Lowdon will continue, with Ovo Energy boss Stephen Fitzpatrick revealed as the new investor. Former Sainsbury's CEO Justin King has been named as interim Chairman.

Lowdon thanked all those that have supported the team during the last six months and says believes the team are ready to compete from the off with the new backing of Fitzpatrick and King.

"I want to thank all of the teams, the FIA, Formula One Management, our suppliers and staff and of course all of the fans for the support we've received over the past six months," Lowdon said. "It has been a challenging period for all of us but we've come through it and now we just want to go racing again. With formidable new business leadership in Stephen Fitzpatrick and the board presence of Justin King we are now in a great place ahead of the new season. This is a fantastic and very rewarding moment for all those involved with the team."

"We've all worked incredibly hard to get the car ready for Melbourne and the season ahead," Fitzpatrick commented. "Our fans have given the team amazing support for many years and we want to restore Manor to the very best of racing in the future. I have a lifelong passion for Formula One and can't wait for the season ahead, with Manor and the team."

King added: "I know from the years I spent at Sainsbury's that with the right people, the right values, and sheer hard work, you can turn any business around. In Graeme and Team Principal John Booth we have all three and I'm fully confident that we can help Manor be competitive at the highest level of racing."

A team-mate for Will Stevens is yet to be announced, but the Manor team are expected to run two cars in Melbourne, meaning a second driver will be revealed in the next week.

King's son Jordan King is rumoured to be one of the favourites to join Stevens at Manor. The 21-year-old is set to compete in the upcoming GP2 series with Racing Engineering after enjoying a successful 2014 campaign in the Formula 3 European season with Carlin, finishing seventh in the drivers' standings.

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sunny,
tbh granted there will always be a team at the bottom but with the way BE has staggered the monies and bonuses it makes it even harder for the backmarker teams to progress in my view, I personally don't see why the top teams get free travel etc and the lower teams don't, quite honestly they all race in the same championship, they all have to get to the same tracks so I reckon they should all have the same benefits and / or expenses, it seems to me it should be all for one and one for all BUT extra benefits / payment bonuses and such like should be awarded on performance in the races .... after all it's the unfairness of the benefit / bonus system which is whats squeezing the lesser teams off the grid anyway.... but best wishes to Manor