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 »
12y ago from RichlandF1.com 0
Share

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...
12y ago from TheCheckeredFlag....

Marussia: A tough day

19 April, 2013 Rodolfo Gonzalez Unsurprisingly, heat was a major factor...
12y ago from YallaF1.com

F1 Bahrain 2013: Marussia confident fuel spill issue...

Qualifying took something of a backseat to the Marussia team in Bahrain,...
12y ago from Crash.net

Elsewhere On The Network

Popular On MGPToday.com

Jorge Martin set to return at Czech MotoGP weekend...

Reigning MotoGP champion Jorge Martin is set to return to action at the...
19h ago from MotorsportWeek.c...

Maverick Vinales: ‘It was a big mistake’ to reject...

Maverick Vinales admitted it was a “big mistake” to reject offers...

Popular On IndyCarToday.com

Scott Dixon bet on two stop strategy after he saw...

Scott Dixon took victory in Sunday’s IndyCar race from Mid-Ohio,...

IndyCar Mid-Ohio – Race Results

IndyCar visited Mid-Ohio over the weekend for Honda’s home event and a...

Popular On TotalWRC.com

Popular On GunnersToday.com

Arsenal's stance on contract talks for breakout star...

Arsenal are reportedly confident that Ethan Nwaneri will sign a new...
8h ago from SportsKeeda.com

Fabrizio Romano reveals key meeting over Arsenal...

Transfer expert Fabrizio Romano has provided an update on the future of...
14h ago from CaughtOffside.com

Arsenal supporters start petition to stop club from...

Arsenal fans have reportedly started a petition to stop the north London...
12h ago from SportsKeeda.com

Arsenal chief Andrea Berta decides transfer fee cap...

Arsenal have reportedly decided not to pay more than what they believe is...
14h ago from SportsKeeda.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.