After succumbing to the pitfalls of administration last week, it has been reported that an offer has been put forward to administrators FRP Advisory LLP to buy out Manor Racing MRT, but that is under the proviso that they can purchase all three companies that fall under the Manor umbrella.
The Manor name consists of Just Racing Services Ltd, Just Racing Ltd and Manor Grand Prix Racing Ltd, with the latter two not included in the administration that befell Just Racing Services Ltd last week.
According to motorsport.com, the potential party has also issued a deadline of January 20 for Manor to decide to take up the offer or not, in order to ensure there would be enough time to get the cars ready and approved in time for the start of the 2017 season on March 26.
If the deadline passes without a decision forthcoming, that does not mean the offer will be withdrawn altogether, but could see the figure drop considerably as the 2017 season gets closer, so it is in Manor’s best interests to make up their minds swiftly.
Everything is ready for the 2017 machines to go into production, all the parts are available, but administrators have put a block on any further spending and activity until staff salaries have been honoured this month, which administrators have already confirmed will happen.
FRP Advisory LLP are still looking for further investors whilst this latest offer is considered, but with the start of the 2017 Formula One Season on March 26 moving ever closer, Manor must act quickly if they are to be ready to race in 2017.