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Sunday, December 28, 2014

Fancy an F1 car for Christmas? Marussia sells up

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CNNEDITION:  INTERNATIONALU.S.MÉXICOARABICTV:  CNNiCNN en EspañolSet edition preferenceSign upLog in//Event.observe(window, 'load', function() {//$('hdr-search-box').focus();//});#hdr-editions a { text-decoration:none; }#cnn_hdr-editionS { text-align:left;clear:both; }#cnn_hdr-editionS a { text-decoration:none;font-size:10px;top:7px;line-height:12px;font-weight:bold; }#hdr-prompt-text b { display:inline-block;margin:0 0 0 20px; }#hdr-editions li { padding:0 10px; }#hdr-editions ul li.no-pad-left span { font-size:12px; }.hdr-arrow-intl, .hdr-arrow-us, .hdr-arrow-us2 { left:148px; }.hdr-arrow-us2 { left:180px; }HomeVideoWorldU.S.AfricaAsiaEuropeLatin AmericaMiddle EastMoneyEntertainmentWorld SportTechTraveliReport Football Golf Tennis Motorsport Human to Hero Horse Racing Equestrian Sailing Analysis /* STORY PAGE SPECIFIC CSS */.cnn_stryspccvrgehdr { background:#fff url('http://i.cdn.turner.com/cnn/.e/img/3.0/mosaic/bg_speccov_hdr.gif') 0px 0px repeat-x; }.cnn_stryspcvh1 { position:relative; height:74px;background:transparent url('http://i.cdn.turner.com/cnn/.element/ssi/story/3.0/banner/intl.circuit.inc/circuit.jpg') 50% 0px no-repeat;overflow:hidden; }.cnn_stryspcvh2 { font:bold 10px/12px arial;color:#666;padding:0 0 2px 0; }.cnn_stryspcvh3 { font-family:arial, helvetica, sans-serif; font-weight:bold; font-size:18px; line-height:21px; }.cnn_stryspcvh4 { position:absolute; z-index:1000; float:left;margin:30px 0 0 10px;display:inline; }.cnn_stryspcvh5 { float:right;margin:30px 10px 0 0;display:inline;text-align:right; }.cnn_stryspcvh20 { padding:0 0 2px 0; }.cnn_stryspccvrgebot { height:3px; background:#e6e6e6; }.cnn_stryspccvh6 { width:100%; height:74px; text-align:center; left:0; }.cnn_stryspccvh6 a { display:block; margin:0 auto; width:451px; height:74px; }Part of complete coverage onThe CircuitSHARE THISPrintEmailMore sharingRedditStumbleUponDelicious/* push in config for this share instance */cnn_shareconfig.push({"id" : "cnn_sharebar1","url" : "http://www.cnn.com/2014/12/12/sport/motorsport/marussia-f1-team-sells-assets-at-auction/index.html","title" : "Marussia Formula One team to auction off assets "});Marussia Formula One team to auction off assets By Sarah Holt, CNNDecember 12, 2014 -- Updated 1556 GMT (2356 HKT)window.CNN = window.CNN || {};(function setupContentMeta(ns) {ns.ContentMetadata = ns.ContentMetadata || {};ns.ContentMetadata.pageTopGallery = {};}(CNN));if (typeof cnnArticleGallery=="undefined"){var cnnArticleGallery={};if(typeof cnnArticleGallery.currentImageList=="undefined"){cnnArticleGallery.currentImageList=[];}}var expGalleryPT00=new ArticleExpandableGallery();expGalleryPT00.setImageCount(10);expGalleryPT00.setAdsRefreshCount(3);//cnn_adbptrackpgalimg("F1 team sells assets", 1);.cnn_html_slideshow_metadata > .cnn_html_media_utility::before{color:red;content:'>>';font-size:9px;line-height:12px;padding-right:1px}.cnnstrylccimg640{margin:0 27px 14px 0}.captionText{filter:alpha(opacity=100);opacity:1}.cnn_html_slideshow_media_caption a,.cnn_html_slideshow_media_caption a:visited,.cnn_html_slideshow_media_caption a:link,.captionText a,.captionText a:visited,.captiontext a:link{color:#004276;outline:medium none}.cnnVerticalGalleryPhoto{margin:0 auto;padding-right:68px;width:270px}The defunct Marussia Formula One team is selling its assets in an online auction. The 2013 MR02 race car, with a dummy engine and gearbox, is one of the premium items up for sale.The defunct Marussia Formula One team is selling its assets in an online auction. The 2013 MR02 race car, with a dummy engine and gearbox, is one of the premium items up for sale.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":true,"x":0,"y":0,"pos":1,"title":"F1 team sells assets"}The wheels stopped turning for the Marussia team on November 7, 2014 when it ceased trading after being placed into administration.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":2,"title":"F1 team sells assets"}Max Chilton's race suit is one of the items being sold off. The British racing driver is one of 200 Marussia employees now without a job. cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":3,"title":"F1 team sells assets"}Administrators FRP Advisory are selling the F1 team's assets -- including boxes of exhaust components -- to raise cash to pay Marussia's creditors.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":4,"title":"F1 team sells assets"}A signed photo of Jules Bianchi driving in the Monaco Grand Prix lends a poignant note to the auction. The French racer claimed the team's first points in Monaco this season but remains in hospital with severe head injuries after a crash at the Japanese Grand Prix in October.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":5,"title":"F1 team sells assets"}There are some unusual items up for sale at the auction, including scale model car parts which are used to test aerodynamic efficiency in the wind tunnel.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":6,"title":"F1 team sells assets"}Motorsport collectors might also be interested in bidding for the fireproof suits worn by members of the team during pit stops.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":7,"title":"F1 team sells assets"}Petrol heads can also buy a gearbox assembly complete with drive shafts, wishbones, wheel hubs, brake calipers, suspension arms and transportation frame.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":8,"title":"F1 team sells assets"}

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The online auction offers a chance to get your hands on an F1 steering wheel used during the 2010 season. cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":9,"title":"F1 team sells assets"}For bidders on a budget, smaller items such as Marussia team caps are for sale at the online auction, which takes place on December 16 and 17.cnnArticleGallery.currentImageList[cnnArticleGallery.currentImageList.length]={"currentPicture":false,"x":0,"y":0,"pos":10,"title":"F1 team sells assets"}HIDE CAPTIONF1 team sells assetsF1 team sells assetsF1 team sells assetsF1 team sells assetsF1 team sells assetsF1 team sells assetsF1 team sells assetsF1 team sells assetsF1 team sells assetsF1 team sells assets<<<12345678910>>>Event.observe(window,'load',function(){if(typeof(cnn_adbptrackpgalimg) == 'function' && typeof(cnnArticleGallery) != 'undefined'){cnn_adbptrackpgalimg(cnnArticleGallery.currentImageList[0].image,"Marussia Formula One team to auction off assets ");}});STORY HIGHLIGHTSThe defunct Marussia Formula One team is selling its assets in an online auctionBuyers have a unique chance to buy a 2013 F1 carMax Chilton's racesuit, a steering wheel and a variety of car parts are also for saleAdministrators for Marussia are still hoping to find a buyer so the team can race in 2015Follow us at @WorldSportCNN and like us on Facebook


(CNN) -- Administrators for the Marussia Formula One team are putting its assets up for sale at auction.

A lack of funding saw the team miss the final three races of the 2014 season. After falling into administration, Marussia ceased trading on November 7 with around 200 staff losing their jobs.

The team is still named on the official entry list for the 2015 season, which begins in Australia on March 15, but a new buyer has yet to be found.

The online auction, organized by administrators FRP Advisory, is another death knell for the team's ambitions to re-join the grid.

A source close to the process said that efforts to find a new buyer are continuing but that there was nothing to prevent next week's auction going ahead.

It is understood that an investor was close to finalizing a deal to buy Marussia on the eve of the season-ending Abu Dhabi Grand Prix.

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The Caterham F1 team, which entered the sport at the same time as Marussia in 2010 season, is also in administration and searching for a new injection of funds.

Caterham used crowd funding to raise enough cash to race in Abu Dhabi but that is not a realistic funding option for a full season, which costs at least $70m.

Meanwhile, the administrators for Marussia are focused on generating funds through next week's auction to pay the team's creditors.

The live online sale of Marussia's assets takes place on December 16 and 17 through the auctionhq.com website.

The plight of the Marussia team gives motorsport collectors and F1 fans a unique chance to get their hands on some amazing pieces of F1 kit.

The star lot is the 2013 race car -- although with a dummy engine, gearbox and steering wheels its new owner won't be able to drive home in it.

A functioning steering wheel from the 2010 car, a collection of exhaust parts, alloy wheels and a gearbox assembly, including suspension arms and brake calipers, are also some of the mechanical goodies up for grabs.

There is also a chance to buy driver Max Chilton's race suit and a collection of team shirts and baseball caps.


The "Everything Must Go" sale also includes more mundane items such as the reception desk from the factory's headquarters in England, cordless drills and storage shelves.

A signed photograph of injured racer Jules Bianchi competing at the Monaco Grand Prix lends a note of poignancy to the auction.

The Frenchman collected the first ever points for Marussia this season by finishing ninth at the race around the streets of Monte Carlo but the 25-year-old is now battling severe head injuries.

Bianchi crashed in difficult conditions during October's Japanese Grand Prix and is now being treated at a French hospital.

While the online auction of Marussia assets presents a chance to buy some very special Christmas presents for the F1 fan in your life, the team will be hoping for some festive good cheer -- and a last-minute buyer.

Read: Marussia Formula One team folds

Read: Is Formula One running out of gas?

Read: Jules Bianchi out of artifical coma


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