SINGAPORE - SEPTEMBER 18: Alexander Rossi of the United States and Manor Marussia drives during practice for the Formula One Grand Prix of Singapore at Marina Bay Street Circuit on September 18, 2015 in Singapore. (Photo by Clive Mason/Getty Images)

According to reports in the British press, an offer to buy out the battling Manor Formula One team, which went into administration last week, has been put on the table, however an answer to their offer is needed by the end of the working week.

Autosport claims that there is an offer for all three of the Manor Companies, not just the Manor F1 team, but also Just Racing Services Ltd and Just Racing Ltd, even if Just Racing Ltd is not actually in administration.

The team’s staff have all been retained and paid for January, meaning that there is hope on the horizon for production of the 2017 challengers to get underway.