Marussia and Caterham held merger talks
© Marussia F1 Team
|22 March 2013 by TF1T Staff | M||Tweet
Marussia have confirmed that they held discussions with chief rival Caterham about merging, in what is the latest sign of financial struggles amongst the smaller teams.
The two outfits have been fierce rivals since they joined the sport back in 2010. With neither scoring points and having battled closely for tenth last season.
Marussia CEO Graeme Lowdon said on Friday: "I can confirm that discussions took place. I wasn't involved in them and as I understand it, the conclusion was unacceptable to our shareholders. So nothing happened."
Caterham media officer Tom Webb added: "It was soon clear that a mutually beneficial solution could not be achieved."
The news may be seen as a further sign that the financial security of the lower teams isn't safe at all and may add fuel to rumours that Tony Fernandes is losing interest in F1 as the team fails to make much progress.