Marussia in 'talks' after recording big loss

Marussia is in "talks with potential investors" after recording a $79 million loss last year, the business journalist Christian Sylt reports.

Writing in the Guardian, Sylt quoted the backmarker F1 team's chief executive Andy Webb as saying bosses are "in active discussions with potential new investors", and also seeking new sponsorship deals.

Webb added that some of the talks are "well advanced although not yet completed, so the outcome of each remains uncertain".

He said the team's costs had risen because of "significant investment in the team's personnel, infrastructure and factory".

Sylt estimated Marussia's value at about $72 million, and said the team owes $125 million in loans.

The team is however expected to reap millions in Concorde Agreement income, if it can maintain its lucrative tenth place in the 2012 constructors' points standings.

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Leopold

Leopold Pleijsier founded F1-Fansite.com in 2001 and has followed Formula 1 since the early 1980s. He writes about daily F1 news, race weekends, drivers and the sport’s history.

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