Return: Marussia look set to return to the grid in Formula One next seasonMarussia took another giant step towards their Formula One return on Thursday after a deal was finally struck to exit administration.
Trading as Manor, its previous name, the company has come to an agreement with creditors, who are said to be owed tens of millions, for a Company Voluntary Arrangement which allows control to be passed back to the owners.
Administrators FRP said the latest move “creates a platform for the company to continue with its plas to participate once again within Formula 1.”
The directors are thought to have new owners waiting in the wings once a deal is struck.
But the biggest hurdle could yet be getting the agreement of rival teams to compete with a year-old car.
It is too late now to build a car to the 2015 regulations.
Silverstone-based Force India have already said they will resist the move.
But Marussia are thought to have the backing of F1 ringmaster Bernie Ecclestone who does not want to see a depleted grid.
And they are hoping the £40m prize money due from last season could help ease their way back on to the grid.
If they do make it, F1 sources suggest ex-racer Max Chilton, 23, from Reigate, will not be one of their drivers.