Much of the finance comes from his father, Grahame Chilton, the co-founder of
the Benfield insurance giant and worth a reported £100 million.
While the team remained tight-lipped on the circumstances surrounding
Chilton’s demise, it is believed that the issue of funds had been building
for some time and that it was not a rash or hasty decision.
It remains to be seen whether Chilton’s management will be able to amass
sufficient money to restore his place in the car as the team wishes.
John Booth, team principal, said: “Although it was not our intention to offer
Alexander the possibility to race this season, in light of the circumstances
we are pleased to be providing him with the opportunity to make his grand
prix debut.
“Naturally we hope to resume normal service with respect to our established
race driver line-up as soon as possible, but for now we wish Alexander well
for the weekend ahead and we look forward to seeing him in action.”
The saga highlights how precarious the finances of many teams in F1 are, and
how reliant they have become on funding from “pay drivers” to sustain their
multi-million pound operations.
Chilton arrived in Spa in a black 4×4 on Thursday morning, smiling as he posed
for photos. On Wednesday he had even tweeted a picture en route to the
famous old circuit, clearly hopeful of striking a deal with the team. His
brother, Tom Chilton, races in the World Touring Car Championship.
After Marussia stunned the paddock with the news, Chilton left the circuit
before his management put out a statement. “Max Chilton has volunteered to
step out of his race seat for this weekend’s race in Spa, Belgium, to allow
the team to attract much needed funds by selling his seat,” it read.
“Max will attend the race and be on hand to support the team in any way
possible. Marussia are currently in talks with several new investors and it
is expected the situation will be resolved before the next race in the F1
calendar in Monza.”
Rossi, 22, is the first American to race in Formula One since Scott Speed
drove for Toro Rosso in 2007. He was understandably delighted at his
unexpected call-up. “It goes without saying that I am thrilled to be given
the opportunity to race in Formula One for the first time and I cannot thank
Marussia for the faith they are demonstrating in me,” he said.
The American only joined Marussia last month after he was dropped as a reserve
driver by Caterham, who themselves have shifted their driver line-up ahead
of the Belgian Grand Prix. André Lotterer, a three-time Le Mans winner and
F1 rookie, replaces Kamui Kobayashi.
– Belgian GP: Five things to look forward to at
Spa-Francorchamps