Fresh from the reports that Bernie Ecclestone had allowed Marussia and Caterham to miss the US Grand Prix next week, Marussia have confirmed that the team have also entered administration similar to the Caterham team which entered administration on Friday.

Both the teams have been struggling financially and Caterham have also been involved in a legal dispute between current owners and former employees who were laid-off.

News coming in from Administrators FRP Advisory confirmed the news, Marussia which is based in Oxfordshire have had a tough time in Formula 1 like most new teams. They however did score their first ever points when Jules Bianchi came in 9th at the Monaco GP.

Jules however has been in hospital since a major accident in the Japanese Grand Prix on the 5th of October. There could be the possibility that Marussia might miss the Brazilian GP also, similar to Caterham who have been allowed to miss both the US and Brazilian GPs.