Marussia plays down Lloyds exit

Apr.24 (GMM) Marussia has played down the impact of the withdrawal of a team co-owner.

It emerged this week that Lloyds, the part government-owned British bank, has sold its 25.3pc stake due to huge losses and the team's lack of results.

A spokesman told F1 business journalist Christian Sylt and the Telegraph newspaper that Marussia, the Russian carmaker, bought the Lloyds stake.

Chief executive Andy Webb denied the move is bad news for the Marussia team.

"In terms of stability, the team is now in its strongest position since it was founded in 2009," he is quoted by the Express newspaper.