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Manor gets its money back from the FIA

The FIA, Formula 1's governing body, has returned the entry fee paid by Manor last year to enter the 2017 F1 world championship.

Manor acquitted its $522,322 entry in November of 2016, but the British team's finances collapsed on the eve of the 2017 season, forcing the entity operating the F1 outfit into administration.

"Just Racing Services Limited, the company within the Manor Group responsible for servicing the team went into administration in January of this year and ceased trading later that month," the FIA said in a statement released earlier today.

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"Consequently, the team did not take any part in the 2017 Championship.

"The FIA has therefore decided to return the entry fee, less the administrative costs incurred by the Federation as part of the entry process, to the entity within the Manor Group in administration as a gesture of good will to assist in payment of outstanding debts."

Administrators of the defunct company auctioned off a series of assets, including four rolling chassis and the windtunnel model of the Manor's 2017 car.

The money returned by the governing body will serve to pay off remaining creditors.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.