News Details
Marussia shares sold following hefty loss
Lloyds Banking Group has sold its shares in Marussia F1 Team, amounting to 25.3% of the team's backing. Following a lack of success since the team entered Formula One in 2010, the move will only increase the financial instability facing Marussia.
Lloyds initially invested £10m into the team, but the banking giant has now opted to pull its backing.
'LDC [Lloyds Development Capital] has sold its minority shareholding in the Marussia F1 team to Marussia. While the details will remain undisclosed, the terms of the transaction will enable LDC to recoup the full value of its investment in the business,' a spokesperson told The Telegraph.
The spokesperson also revealed that the £38m loan,...
Full Story »
Full Story »
10y ago from RichlandF1.com
0
You May Also Be Interested In...
Pic Makes Progress In Caterham's Battle With Marussia
Caterham continued their intense rivalry with Marussia at the Chinese...
10y ago from TheCheckeredFlag....
Marussia: A tough day
19 April, 2013 Rodolfo Gonzalez
Unsurprisingly, heat was a major factor...
10y ago from YallaF1.com
F1 Bahrain 2013: Marussia confident fuel spill issue...
Qualifying took something of a backseat to the Marussia team in Bahrain,...
10y ago from Crash.net
Elsewhere On The Network
Popular On MGPToday.com
BMW 'looking closely' at a future MotoGP entry
No description available...
22h ago from Motorsport.com
Ducati announces Aldeguer signing for 2025, but not...
No description available...
16h ago from Motorsport.com
Aldeguer signs two-year MotoGP deal with Ducati for...
Fermín Aldeguer will make the step up to MotoGP in 2025, having agreed a...
16h ago from MotorsportWeek.c...
Bastianini says KTM "really close" to Ducati...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Lundqvist: CGR resources are ‘everything I could...
Linus Lundqvist is one of three rookies contesting the entirety of the...
16h ago from MotorsportWeek.c...
Why IndyCar's Nashville finale is a unique challenge...
No description available...
3d ago from Motorsport.com
Ilott keeps Arrow McLaren drive for $1m IndyCar race
No description available...
4d ago from Motorsport.com
Consistency a top priority for Ericsson at ‘up and...
As Marcus Ericsson enters his sixth year racing in the NTT IndyCar Series,...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Kenjiro Shinozuka, 1948–2024
Kenjiro Shinozuka, the 1997 Paris–Dakar Rally victor and 2× World Rally...
11h ago from TheCheckeredFlag...
WRC and Dakar winner Kenjiro Shinozuka dies aged 75
No description available...
18h ago from Motorsport.com
Fourmaux: Adjusting to hybrid-less WRC cars will be a...
No description available...
1d ago from Motorsport.com
Audi could face 750,000 euro fine for exiting World...
No description available...
3d ago from Motorsport.com
Popular On GunnersToday.com
Arsenal star joins Ben White in rejecting...
Arsenal player Thomas Partey has declined an international call-up,...
50m ago from CaughtOffside.com
Star linked with Arsenal & Liverpool but it may...
Transfer news expert Fabrizio Romano has weighed in with his latest update...
50m ago from CaughtOffside.com
Big Gabi out of Brazil squad + Forest's points...
Morning. Not a lot of news but the main Arsenal story is the fact that...
1h ago from Arseblog.com
Man United want Real Madrid striker that Prem rivals...
The biggest clubs in European football could line up markedly differently...
2h ago from CaughtOffside.com
Comments
Hottest News
Former F1 boss says Red Bull 'rethink' underway amid Horner...
Former Formula 1 team principal Guenther Steiner... Read More »
1h ago from GPFans.com
Ocon 'p****d off' by Verstappen F1 decision
Ocon and Verstappen have been rivals in racing... Read More »
30m ago from RacingNews365.com
Former F1 boss makes SHOCKING Verstappen declaration
A former Formula 1 team principal has made a... Read More »
30m ago from GPFans.com