Tuesday, March 26, 2013

Marussia and Caterham considered merger

F1 backmarkers Marussia and Caterham held talks over the winter about a possible merger.

The surprise news emerged as F1 chief executive Bernie Ecclestone attempted to explain why Marussia is the only team without a commercial deal for 2013."I have everything prepared here for them to sign," he told the Times. "It is not a problem. But they have not been happy and they almost merged with Caterham, so that made me wonder what was happening."

The news agency GMM, reported that Caterham and Marussia contemplated the merger to "guarantee survival", but the talks "floundered and the two teams are now in a dogfight for tens of millions of pounds in prize money".

Marussia chief executive Graeme Lowdon confirmed the merger talks.

"I wasn't involved in them (the talks) and as I understand it, the conclusion was unacceptable to our shareholders. So nothing happened," he told British broadcaster Sky. (GMM)

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