Manor set for new investor boost

Manor F1 Team

Manor chief Stephen Fitzpatrick told media in Abu Dhabi that his team was in the throes of concluding a deal with a new investor, which appears to be Tavo Hellmund who was instrumental in making the United States grand Prix happen in Austin.

Speaking at a press conference at Yas Marina, Fitzpatrick revealed, “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,” Fitzpatrick said.

“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, that 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,” added Fitzpatrick.

Respected F1 journalist Joe Saward reported on his authoritative blog: “Tavo has been quietly negotiating with Manor to buy the team. It’s been going on for at least 18 months, but the price has never been right and Tavo is never going to pay more than the team is worth.”