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Ferrari, McLaren to lose millions from Marussia Formula One team collapse

Dec 29, 2014    

Ferrari and McLaren stand to lose millions as a result of the collapse of the Marussia Formula One team, the Sunday Telegraph newspaper reported.It said documents from administrators FRP Advisory dated 18 December showed that Ferrari, Formula One's oldest and most successful team, were owed 16.6 million pounds ($25.81 million) for engines supplied.McLaren, who had a technical partnership with Marussia, were owed 7.1 million pounds ($11.04 million).The newspaper said Lloyds Development Capital (LDC), the private equity division of taxpayer-owned Lloyds Banking Group, was owed 13.2 million which...

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