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F1 Abu Dhabi GP: Manor boss ‘agrees terms’ with new investor

A new majority shareholder is set to provide fresh investment for the Manor Racing team in 2017, according to owner Stephen Fitzpatrick.
Manor Racing is set to receive a financial boost from a fresh investor after current owner Stephen Fitzpatrick confirmed talks have now reached an advanced stage.

Manor CEO Thomas Mayer revealed the team could be in line for a takeover from a new majority shareholder over the Brazilian Grand Prix, with owner Fitzpatrick – who assumed control of the minnow team at the end of the 2014 season – confirming that terms have been agreed.

Indeed, Fitzpatrick says he was always open to the possibility of a majority investor coming in to bolster the team's fortunes, but declined to give specific details.

“I can't talk too much about the specifics but we have been in discussions with several investors, well, for the last six months let's say. One of the things I was quite clear on, right from the start, was that I accepted that in the current F1, money equals performance.

“Anything that was going to bring more funding to the team and help the team develop and progress I was very open and if that meant bringing another investor, even a majority investor, hat was something I was happy to do.

“We have agreed terms with an investor at the moment and we are still working through that and I can't really talk more about the specifics.”

Manor's financial security was dealt a blow last time out in Brazil after rivals Sauber scored points at Interlagos. The result means Sauber goes ahead of Manor in the constructors' standings, a position swap worth millions in prize money.


Related Pictures

Click on relevant pic to enlarge
25.11.2016 - Free Practice 2, Pascal Wehrlein (GER) Manor Racing MRT05
25.11.2016 - Free Practice 2, Esteban Ocon (FRA) Manor Racing MRT05
25.11.2016 - Free Practice 2, Pascal Wehrlein (GER) Manor Racing MRT05
12.11.2016 - Free Practice 3, Pascal Wehrlein (GER) Manor Racing MRT05
French Grand Prix at Paul Ricard
Lewis Hamilton, Mercedes, Pirelli 2017 tyre test [Credit: Pirelli]
27.11.2016 - Race, Marcus Ericsson (SUE) Sauber C34 and Fernando Alonso (ESP) McLaren Honda MP4-31
27.11.2016 - Race, Marcus Ericsson (SUE) Sauber C34
27.11.2016 - Race, Felipe Nasr (BRA) Sauber C34
27.11.2016 - Race, Felipe Nasr (BRA) Sauber C34 and Max Verstappen (NED) Red Bull Racing RB12
27.11.2016 - Race, Felipe Nasr (BRA) Sauber C34
27.11.2016 - Race, Marcus Ericsson (SUE) Sauber C34, Carlos Sainz Jr (ESP) Scuderia Toro Rosso STR11 and Max Verstappen (NED) Red Bull Racing RB12
27.11.2016 - Race, Marcus Ericsson (SUE) Sauber C34
27.11.2016 - Race, Felipe Nasr (BRA) Sauber C34 leads Romain Grosjean (FRA) Haas F1 Team VF-16
27.11.2016 - Race, Kevin Magnussen (DEN) Renault Sport F1 Team RS16 and Pascal Wehrlein (GER) Manor Racing MRT05
27.11.2016 - Race, Carlos Sainz Jr (ESP) Scuderia Toro Rosso STR11 leads Pascal Wehrlein (GER) Manor Racing MRT05
27.11.2016 - Race, Esteban Ocon (FRA) Manor Racing MRT05, Pascal Wehrlein (GER) Manor Racing MRT05 and Felipe Nasr (BRA) Sauber C34
27.11.2016 - Race, Start of the race, Daniil Kvyat (RUS) Scuderia Toro Rosso STR11 and Pascal Wehrlein (GER) Manor Racing MRT05

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