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Manor GP exits bankruptcy, secures Ferrari engine deal

Those who considered Manor Grand Prix down for the count may be in for a surprise as the struggling Formula One team is clawing its way back onto the grid. According to the latest intel, the outfit has not only re-emerged from bankruptcy proceedings, but it's also secured an engine deal for this season. Now if the name Manor doesn't ring any bells for you, it's probably because it never raced under that name. At least not in F1. Manor Motorsport has been competing in lower-level formulae since 1990, and secured an expansion slot in the big leagues in 2009. By the time it actually reached the grid, it had secured title sponsorship from Virgin, and was subsequently taken over by Marussia, under whose banner it competed for several season until things started to unravel late last season. After Jules Bianchi crashed at the 2014 Japanese Grand Prix, it fielded only one car (that failed to finish) at the subsequent Russian Grand Prix and then dropped off the grid altogether. After failing to make it to the season closer in Abu Dhabi, the team was declared bankrupt. In an effort to regroup and make it back on the grid for the 2015 championship, it appealed to its rivals for special dispensation to run last year's car this season. Unfortunately, some of the other teams rejected the proposal, and it looked like it was all over for the struggling backmarker. But it retained its slot on the entry list and paid its fees, and has now emerged from bankruptcy proceedings, eager to get back into the action – even if it misses the season opener in a couple of weeks in Australia. The team is now focusing on completing its original design for the 2015 MR04 chassis. And it appears to have cleared a major hurdle as Ferrari has reportedly agreed to supply the team with last year's engine. We'll just have to wait and see whether that will prove enough to get the team back up and running – especially since it already sold off many of its assets. News Source: ESPN F1 (1), (2)Image Credit: Paul Gilham/Getty Earnings/Financials Motorsports Ferrari F1 manor

Ferrari 250 GT California nets $17 million at Amelia Island

The 1961 Ferrari 250 GT SWB California Spider is famed for its feature (in replica form) in "Ferris Beuller's Day Off" and as one of the more valuable Ferrari models. This year's Gooding & Company auction at the Amelia Island Concours d'Elegance have has cemented that with a high-dollar example. This 250 is indeed a real example, one of just 56 ever made, and only 37 with those desirable covered headlights. This was the first time this particular example was ever offered for sale to the public in its 55-year history, and it fetched $17.16 million at the Florida concours over the weekend. That's not quite enough to take the record for this highly sought-after model. According to Sports Car Market, that still belongs to the barn-find example that Artcurial sold last year for over $18 million. But it did beat its own pre-sale estimates, and was enough to top Gooding's list as well as that of Amelia Island. Related Video:   Gooding & Company Sets Amelia Island Record for Single Lot and Celebrates More Than $60 Million in Sales from its 2016 Amelia Island Auction - 1961 Ferrari 250 GT SWB California Spider Fetches $17,160,000, a Gooding & Company Record - Selections from The Jerry Seinfeld Collection Total More Than $22.2 Million AMELIA ISLAND, Fla. (March 13, 2016) – Gooding & Company, the auction house acclaimed for selling the world's most significant and valuable collector cars with the tradition of presenting some of the greatest collections to ever come to market, realized $60,162,150 in a single day at the company's 2016 Amelia Island Auction. The most talked about event of the week did not disappoint, as President David Gooding and Auctioneer Charlie Ross sold 69 of 79 lots for an impressive 87% sales rate, which resulted in an astounding average price of $871,915 per car sold. The standing-room-only crowd also witnessed the company achieve nine new world auction benchmarks. There were highlights throughout the auction, including the $22,244,500 garnered by Selections from The Jerry Seinfeld Collection and the star of the day, the 1961 Ferrari 250 GT SWB California Spider which commanded a price of $17,160,000. "We are delighted with our auction results and are proud of the new auction records we have set, which demonstrates that there is a strong demand for high quality cars," stated David Gooding, President of Gooding & Company. "The room was electric from the beginning and the crowd's intensity only grew when Mr.

The Ferrari GTC4Lusso T ditches the V12 and AWD for a turbo V8 and rear drive

Ferrari continues to turbocharge its lineup with the latest addition – the GTC4Lusso T. This car has the same body as the four-seat GTC4Lusso, but features a turbocharged V8 and sends power only to the rear wheels, a recipe that might just make the gorgeous, elongated hatchback even better to drive. Aside from the addition of the T badge, the majority of the updates were made under the car's body. Gone is the beastly naturally aspirated 6.3-liter V12, and in its place is a twin-turbocharged 3.9-liter V8. The new engine is similar to the one found in the California T, but it has been revised to make a little more power: The 3.9-liter in the GTC4Lusso T puts out 602 horsepower and 560 pound-feet of torque. That's a 78-hp decrease from the GTC4Lusso's V12 motor, but 46 lb-ft more. View 17 Photos While some will see the decrease in power as a downgrade, which it kind of is, the GTC4Lusso T is rear-wheel-drive only and, according to Ferrari, lighter. Much of that weight savings comes from removing the trick all-wheel-drive gearbox that sits in front of the V12 GTC4Lusso's engine, and its absence also shifts the vehicle's weight bias towards the rear, with a 46:54 split. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Ferrari claims the GTC4Lusso T's turbocharged V8 has been engineered for everyday driving with modular torque delivery and a muted exhaust note at low speeds. The vehicle's dynamic systems have also been updated with the 4WS (rear-wheel steering) and Side Slip Control (SSC3) now more responsive to steering wheel inputs. No performance figures for the turbocharged V8 model have been released, but the GTC4Lusso T should manage to get close to the GTC4Lusso's 0-to-62 mph time of 3.4 seconds, but have a lower top speed than the V12 model, which tops out at 208 mph. Already missing the naturally aspirated V12 and all-wheel drive? Don't fret, as a Ferrari spokesperson confirmed that the automaker will continue to sell the GTC4Lusso alongside the GTC4Lusso T. The new model will make its world debut at next week's Paris Motor Show. Related Video: Related Gallery 2017 Ferrari GTC4Lusso T News Source: FerrariImage Credit: Live photos copyright 2016 Drew Phillips / Autoblog Paris Motor Show Ferrari Coupe Hatchback Wagon Performance Supercars 2016 paris motor show