Manor Racing owner Stephen Fitzpatrick has confirmed that talks are ongoing with a number of investors which could see them taking a majority stake in the team.
Fitzpatrick made an unlikely revival of the original Manor team, run at the time by John Booth and Graeme Lowdon, which was in the process of administration. After effectively being in life support in 2015, running a year old car for the season, a number of investments were made to improve the performance of the team.
A change to the Mercedes engine, has seen them take points this season with Pascal Wehrlein but it hasnt been enough to secure 10th in the Constructors Championship.
Talking in Fridays press conference, Fitzpatrick confirmed the situation at Manor, “Well, I can’t talk too much about the specifics but we have been in discussions with several investors, well, for the last six months let’s say.
“One of the things I was quite clear on, right from the start, was that I accepted that in the current F1, money equals performance, so anything that was going to bring more funding to the team and help the team develop and progress I was very open and if that meant bringing another investor, even a majority investor, hat was something I was happy to do.
“We have agreed terms with an investor at the moment and we are still working through that and I can’t really talk more about the specifics.”