Manor has a great fan base and it’s member are following every move around the team. Following their site TheJudge13 found Fitzpatrick is considering a deal put on the table by CGF.
One of the the requirements for a deal seems to be a guarantee the team can start and finish the 2017 season. This requirement has been met when proof of funds were provide by CGF and investors.
So what is keeping the deal from happening?
CGF has advised their client to do an extensive due diligence. Lawyers have been contracted to do this work, and they involve the same names as Fitzpatrick used when acquiring the team himself.
The process is taking it’s time though. A big red flag is the fact that Manor has been involved in the fatal accident with Jules Bianchi. The lawyers are looking into possible liability surrounding this (and other) accidents. Since this matter is complex, the lawyers have contacted external parties and are considering their views.
The process is completely in hands of CGF and it’s investors, and Fitzpatrick can only wait as see what they decide.
Being in administration only added complication since administrators have to keep to a certain procedure. Does the pulling of the plug by the administrators help simplify matters? If JSRL went belly up, only to make place for a new entity might this even break the chain of responsibility?
As you might be gathering the situation is complex. CGF and investors are well aware of the critical situation the team and the pressures to compete in the first race at Melbourne. Liability however, trumps all other forces.
They hope in the next few days that the independent due diligence will be complete and that they have will have a clearer picture of where they stand.
Ups-and-downs follow each other at a racing pace. What clear is, is that CGF bid hasn’t failed nor has it stalled.
To be continued? TheJudge13 certainly hopes to see the Manor team on the F1 track again!