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Formula 1's debt-ridden Manor Racing goes into administration

PAULO WHITAKER / Reuters

LONDON - Advisers for Formula One team Manor Racing say it has gone into administration.

Manor Racing, the British-based team which was seeking new investors, finished 11th and last in the constructor's championship last season. German driver Pascal Wehrlein secured their only point with a 10th-place finish in Austria.

FRP Advisory says in a statement on Friday: ''Just Racing Services Limited, the operating company of the Manor Racing Formula One team, enters administration.''

Manor Racing was formerly known as Marussia, which went into administration in late 2014, before returning to the grid under the Manor name.

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