Marussia paying back 1.3p on the pound to their unsecured creditors. This is why I hate Marussia/Manor. They got into debt, they paid that money getting into that debt to earn the money that the current team will get. They owe Ferrari 15mil, Mclaren 7.1mil, Pirelli 1mil, etc. I hate this "let a company die, get a favourable debt repayment option go on and rake in the profits under a new name" bullcrap. The £30mil should go to pay off the original creditors, AFTER that if Manor can compete with money they have I'm happy to have them. But writing off debt and handing last years winnings to Manor rather than the people the team who actually competed for that money owes is despicable IMHO.
Considering the amount of debt and how many smaller companies could probably really do with that money. Even Ferrari, they have plenty of cash but unless they are overcharging Manor £15mil for this years engines I'd be irate to be asked to give them engines when I knew they really owed us £15mil.
http://www.telegraph.co.uk/finance/...ssia-to-pay-creditors-just-1.3p-in-pound.html
They lost £30mil last year alone, in 8 months, 11mil the year before. They owed 60mil total but 30mil to unsecured debt. So Ferrari instead of getting 15mil back will get what 200k... and the new team can pocket £30mil in winnings. How on earth, in accounting terms, can F1 be set up such that the team that competed for and deserves that £30mil... goes to a new company. It's absurd.
EDIT:- not quite as terrible as I thought, seems like the new guys put in a whole 500k to effectively buy out Manor, that 500k gets split between something between 26-36mil(wasn't quite clear) of unsecured creditors(Ferrari, others). The Russian bankrolling them invested £132mil... that gets written off entirely, then around 25mil of secured debt is transferred to the new Manor. With last years prize money they end up almost making 9mil profit effectively. I hope Ferrari charge them extra for engines this year... a lot extra.
The fact Mercedes had early prototypes of components for the Inline 4 engine format built and being tested shows you just how serious they were about hitting the ground running.
Yup, but they didn't have any extra information/time than anyone else, as with all the discussions now for the future, they are all involved. It's up to the companies themselves to choose when to start R&D and when to get seriously involved. Merc may have made the leap earlier, they may not have, they would all have had loads of time before the final regulations were set with a really damn good idea of exactly what was coming. I am surprised that Renault's own info suggests they started working on the engine effectively the day the regulations were confirmed, as in, lots of people saying they were at about the 2 year mark when the 2014 season started. True for some components I guess.
