The Formula 1 field has been reduced to nine teams following the news that the Marussia and Caterham teams have gone into administration. Caterham was sold by businessman Tony Fernandes to a consortium of Swiss and Middle Eastern investors earlier this year, however this has not prevented it sliding into further difficulties. Both UK-based teams have had little success since they entered the sport in 2010, with the best result between them a 9th place at the 2014 Monaco Grand Prix from Marussia’s Jules Bianchi. The last Formula 1 team to withdraw from the sport was the Spanish outfit HRT in 2012.
