Posted: Fri March 22, 2013 12:37AM; Updated: Fri March 22, 2013 12:36AM

F1 rivals Marussia, Caterham reportedly considering merger

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Marussia Caterham
Marussia driver Max Chilton of Britain, left, and Caterham driver Giedo van der Garde of the Netherlands collide during the Australian Formula One Grand Prix.
Rob Griffith/AP

SEPANG, Malaysia (AP) The Formula One team Marussia has confirmed it has held merger talks with rival Caterham in the latest sign of the financial struggles faced by the smaller teams on the grid.

Graeme Lowdon, Marussia president and sporting director, said Friday that "talks took place" but were not ongoing.

Caterham also confirmed the Christmas 2012 discussion, but spokesman Tom Webb said no deal was reached because "it was soon clear that a mutually beneficial solution could not be achieved," adding it had less to gain from the move, since it has several blue chip sponsors.

Marussia won no points in 2012 and continues to endure financial difficulties. It made headlines earlier this year when Timo Glock left in a cost-cutting move, replaced by a driver who could bring in sponsorship dollars.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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