Marussia Sporting Director Graeme Lowdon has confirmed that the Anglo-Russian squad has signed a commercial rights deal with Bernie Ecclestone, becoming the final team on the grid to do so.
The Banbury-based outfit had been the only team from the 11 that currently participate in the sport to not have secured a new individual seven-year deal with Ecclestone since the last Concorde Agreement expired at the end of 2012.
Marussia’s signature means that all 11 teams on the grid are now committed to Formula One until the end of 2020.
“I can confirm that we have reached an agreement with the CRH and we have signed a bilateral agreement,” said Lowdon. “We can’t comment on any of the content but what we can say is that we are very happy to reach agreement.
“We can move on now as the other teams are.”
Lowdon added that the new commercial deal did not come as just a relief, but more importantly increased the teams standing in the sport, having stood as an outsider for the last few months.
“It has taken a long time but there’s not a lot of point dwelling on that. The main thing is that agreement has been reached and that allows us to move forward.
“I think as well it also changes how the team’s perceived externally. We kind of were in a position where we were the only team that hadn’t signed and now every team has signed individual agreements.
“It’s less relief, it’s more just a case of drawing a line under that and moving forward.”
Image courtesy of Octane Photographic