JOBS at Banbury-based Formula 1 team Marussia are at risk after the company was placed into administration.
FRP Advisory has been appointed as administrator of the company Manor Grand Prix Racing Limited.
The team employs 200 staff and has debts of around £30m.
Joint administrator Geoff Rowley said there have not been any redundancies yet, but admitted they could be around the corner, with staff only being paid until the end of October.
He said: "The ongoing staff position will be dependent on whether the company can secure new investment in the limited time available.
"With the Marussia F1 Team now in administration, the joint administrators have assessed that, given the current financial circumstances of the group, it is not viable for the Marussia F1 Team to participate in the next race, the 2014 Formula 1 United States Grand Prix, due to take place this weekend in Austin, Texas.
"The company will continue to operate while the joint administrators assess the longer term viability of the company in its present form."
It's the second F1 team to go into administration in the last week with the announcement about Caterham on Friday.
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