[8] On 19 January 2015, the administrators of Marussia announced that the auction of its cars and assets had been cancelled so as to allow a possible buy-out to take place.

Marussia were one of the team's partners for its debut season, where it finished in twelfth and last place in the Constructors' Championship.

In November 2011, it applied to the Formula One commission to formally change their constructor name for the 2012 season from Virgin to Marussia, to reflect their new ownership.

Rival team HRT failed to qualify within the 107% time and were not allowed to race at the season opener in Australia.

[26][27] At Spa, the team's 50th Grand Prix as Virgin/Marussia, Charles Pic was fastest in free practice 2 with Timo Glock sixth.

By the end of it, Marussia finished tenth in the Constructors' Championship, ahead of Caterham, earning them significant additional revenue for 2014.

[35][36] At the Monaco Grand Prix, Bianchi scored his own and Marussia's first ever points by finishing ninth in an eventful race.

[4] On 24 July, American rookie Alexander Rossi joined the team as a test and reserve driver from Caterham.

Bianchi was reported as being unconscious after the crash, failing to respond to a radio call from his team and marshals that had gone to his rescue.

[42] Soon after, the FIA released a statement that CT scans had shown Bianchi suffered a "severe head injury" in the crash, and he would be transferred to intensive care following surgery.

Aside from providing updates on their seriously injured driver's medical condition in conjunction with the Bianchi family, a fortnight after the Suzuka accident, the Marussia team also went on public record to condemn various media reports that have been making speculative assertions about the team's direct role in that accident.

[50] On 25 October, it was announced that, along with Caterham, Marussia would be unable to compete at the United States Grand Prix due to financial reasons.

As transport of Formula One team equipment between the USA and Brazil for return to Europe is coordinated together, Marussia also missed the following weekend's Brazilian Grand Prix.

[53] In addition, British media reported that British-Indian steel industry brothers Baljinder Sohi and Sonny Kaushal were potential buyers for the team.

[7] Two days later, however, the administrator announced that the team had ceased trading and folded, without further entry to F1[8] making 200 staff members redundant.

Notwithstanding this, coinciding with the Brazilian Grand Prix weekend, the former team CEO, Graeme Lowdon, remained adamant of the possibility that Marussia could return for the season finale in Abu Dhabi, with a view of also securing its entry in 2015.

[57] With the aim of facilitating the entry of his F1 team in 2016, it is reported that Gene Haas purchased Marussia's Banbury base as well as data and designs for the 2015 car, which was already well developed with a scale wind-tunnel model.

[61] On 5 February 2015, however, the team's request to compete in the 2015 season using their 2014 chassis was declined by the other Formula One entrants, after Force India voted against the proposal.

[68] At the following Malaysian Grand Prix, both drivers failed to qualify for the race, but received permission from the stewards to start.

However, Stevens was unable to leave his garage on race day due to a fuel system problem on his car.

A short-lived controversy ensued after the race thanks to claims made by Force India's deputy team principal, Bob Fernley, that Manor Marussia had a clear strategy to run just one car in Malaysia.