Date: 5th March 2015 at 8:29am
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The Manor Marussia Formula One Team will return to the paddock in Australia the team has confirmed.

The team have successfully managed to secure a new financial backer in the form of Stephen Fitzpatrick the founder of energy company OVO. However his financial input is not connected to OVO.

Former Sainsbury?s CEO Justin King has been announced as the team?s interim chairman, although he has not made a financial input.

Founder of Manor Motorsport John Booth will remain as team principal whilst Graeme Lowdon continues as President and Sporting Director.

After former Marussia owner Andrey Cheglakov withdrew his support in October, the team missed the final three races of the 2014 Formula One World Championship and slipped into administration.

Manor Marussia came out of administration via a Company Voluntary Arrangement two weeks ago and the Dinnington based team immediately announced their intention to make the grid for the Australian Grand Prix, despite missing all three winter tests.

Manor Marussia intend to race with a modified 2014 car.

Racing with last seasons car was initially blocked by the F1 Strategy Group, but Manor Marussia intend to run a modified car which does meet 2015 regulations.

This includes dropping the front of the chassis by 5cm and a new nose cone to meet new dimensional rules and new impact tests.

Those crash tests will take place later this week, whilst their entry was previously confirmed by the FIA.

They have announced 23-year-old British driver Will Stevens as their first driver, although an announcement regarding a second driver has yet to be made.

An agreement is also in place with Ferrari for the team to run old 2014 Ferrari engines.

?I want to thank all of the teams, the FIA, Formula One Management, our suppliers and staff and of course all of the fans for the support we?ve received over the past six months. It has been a challenging period for all of us but we?ve come through it and now we just want to go racing again. Lowdon told Sky Sports.

?With formidable new business leadership in Stephen Fitzpatrick and the board presence of Justin King we are now in a great place ahead of the new season. This is a fantastic and very rewarding moment for all those involved with the team.?