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Marussia F1 intends to come out of administration on February 19

The Marussia Formula 1 team announces its intent to come out of administration on February 19.

The Marussia Formula 1 team has announced that it intends to come out of administration on February 19.

Following financial struggles, the team plunged into administration last October and missed the final three races of the 2014 season.

Since then, the Oxfordshire-based outfit have reportedly been in talks with an interested party, and Marussia's return to the grid looks positive.

Joint administrator Geoff Rowley released a statement today saying that "investment into the business will be made" via a company voluntary arrangement before the Australian Grand Prix in March.

According to Sky Sports News, Marussia are expected to receive prize money in excess of £30m from the 2014 campaign, which has made them more attractive to a potential buyer.

The team finished ninth in last season's constructors' standings.

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Max Chilton of Marussia drives during a practise session for the Brazilian Formula One Grand Prix on November 22, 2013
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