Manor F1 Team may have as little as one week remaining to find a new investor if it is to salvage its spot on the Formula One grid in 2017, according to reports.
Just Racing Services Ltd, the company that operates the race team, went into administration last week. Now the team faces a race against time to be ready for the start of the 2017 season.
While the new car is ready to go into production at the team's facility in Banbury, the administrators have blocked any extra spending required to produce new car components for 2017 until a viable buyer for the business can be found.
Sources close to Manor said that unless the car can go into production by the end of next week, it will be too late for them to make it onto the grid for the first race of the season Melbourne, Australia on March 26.
The final cut-off deadline for Manor is reported to be January 20, after which the Grand Prix grid will almost certainly be reduced to just ten teams in 2017.
Manor was hit hard financially when it lost out to Sauber in its battle for tenth place on the last year's constructors championship as a consequence of Felipe Nasr's top ten finish for Sauber in Brazil.
Losing that crucial position reportedly cost the team more than £10 million in prize money. Since then, Manor has failed to find new investors over the winter, with a mooted takeover bid from American entrepreneur Tavo Hellmund failing to materialise.
GALLERY: F1 drivers' wives and girlfriends
Keep up to date with all the F1 news via Facebook and Twitter
