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 »
13y 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...
13y ago from TheCheckeredFlag....
Marussia: A tough day
19 April, 2013 Rodolfo Gonzalez
Unsurprisingly, heat was a major factor...
13y ago from YallaF1.com
F1 Bahrain 2013: Marussia confident fuel spill issue...
Qualifying took something of a backseat to the Marussia team in Bahrain,...
13y ago from Crash.net
Elsewhere On The Network
Popular On MGPToday.com
Why Dani Pedrosa won't replace Maverick Vinales at Le...
No description available...
40m ago from Motorsport.com
Andrea Iannone returns to MotoGP paddock in...
No description available...
4h ago from Motorsport.com
Toprak Razgatlioglu: Yamaha struggles make me think...
No description available...
5h ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar officiating board helps shape Push to Pass...
IndyCar’s new Independent Officiating Board has made one of its first...
50m ago from MotorsportWeek.c...
IndyCar expands Push to Pass availability
The NTT IndyCar Series has announced a change to the series’ Push to...
1h ago from MotorsportWeek.c...
FOX unveils plan for 60 hours of Indy 500 coverage
No description available...
20h ago from Motorsport.com
Motorsport legend Alex Zanardi dies aged 59
Ex-F1 and CART driver Alex Zanardi has passed away aged 59. His family...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
How Ott Tanak can help Toyota's WRC 2027 car...
No description available...
4h ago from Motorsport.com
Why Hyundai’s WRC season “really starts” at...
No description available...
1d ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
6d ago from Motorsport.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
5d ago from Motorsport.com
Popular On GunnersToday.com
Arsenal vs Atletico preview: Havertz and Odegaard in...
No description available...
20m ago from SkySports.com
5-year-contract: Journo drops transfer bombshell for...
Bayern Munich are wasting absolutely no time making their intentions clear...
5h ago from CaughtOffside.com
'It really is contagious' - Martin Zubimendi reveals...
Arsenal midfielder Martin Zubimendi has mentioned the two attributes he...
4h ago from SportsKeeda.com
How many more points do Arsenal need to win Premier...
The Premier League title race took another incredible twist on Monday...
5h ago from SportsKeeda.com
Comments
Hottest News
Lando Norris wants F1 to throw battery in the bin,...
Lando Norris has called for Formula 1 to go... Read More »
2h ago from GPFans.com
Piastri: McLaren not yet back to best level, but ‘getting...
Momentum is beginning to build again at McLaren,... Read More »
1h ago from F1i.com
Lewis Hamilton curses damaged Ferrari after ‘no-man's...
Lewis Hamilton was left cursing his luck after... Read More »
50m ago from MotorsportWeek.com
