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Russian firm buys stake in Virgin Racing

Updated: November 11, 2010, 8:40 AM ET
Associated Press

ABU DHABI, United Arab Emirates -- Russian sports car manufacturer Marussia Motors bought a "significant" stake in Virgin Racing's Formula One team Thursday.

Marussia, lead by former racer Nikolay Fomenko, has been a sponsor of Virgin Racing since the team formed in 2009, but said its decision to buy a stake in the company is part of its overall goal to raise its profile in the sport.

"This is a realization of a dream for Marussia Motors," Fomenko said. "We will have a Formula One ...

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