Marussia to miss US Grand Prix and go into administration

Marussia will miss the United States Grand Prix this weekend after becoming the second Formula 1 team in four days to go into administration.

London-based administrators FRP Advisory said in a statement that Marussia will "continue to operate" but confirmed they would not take their place on the grid in Austin, Texas.

The news comes hot on the heels of Caterham entering administration on Friday and being given special dispensation by F1 supremo Bernie Ecclestone to miss the US and Brazilian grands prix while a buyer is sought – a courtesy that has also been extended to Banbury-based marque Marussia should they need it.

A statement from the administrator confirmed that no redundancies had been made following the decision to enter administration, but the ongoing staff position will be “dependent on whether the company can secure new investment in the limited time available”.