Manor Racing team principal John Booth and sporting director Graeme Lowdon have reportedly tendered their resignation to leave at the end of the 2015 season.

Founded by Booth in 1990, Manor enjoyed significant success in the junior motorsport ranks - particularly at Formula 3 - before stepping up to Formula 1 in 2010 under the Virgin Racing banner, which became Marussia in 2012 until the outfit slipped into administration towards the end of 2014.

Bought out over the winter by Stephen Fitzpatrick - owner of energy firm Ovo -, who funds the team alongside former Sainsbury's chief executive Justin King, the minnow outfit returned to action in 2015 under its original Manor guise, still with Booth and Lowdon in management roles.

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Indeed, though the late deal has forced Manor to struggle on with modified versions of its 2014 chassis and engine, its future looks brighter having brokered a deal with Mercedes to secure a supply of its engines for 2016.

However, reports in the paddock suggest decisions at the top of the team have created discord at team management level, with Booth and Lowdon both set to leave the team as a result.

According to Reuters, the pair will remain in charge of the team until the end of the season, but declined to comment further on the exact reasons for the split.