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F1: Caterham’s Fate Still Not Decided

As Force India becomes the first of the teams announcing its launch date, the beleaguered team Caterham is still continuing its fight to survive on the F1 grid in 2015.

 

Going into administration last year and missing two grand prix both in Brazil and the United States, Caterham finally succeeded in attending the season finale in Abu Dhabi last year through an innovative crowdfunding project. The race in Abu Dhabi was crucial, because it gave the team a chance to show their determination and ability to compete in F1, thus, attracting more potential buyers. Moreover, Formula One Commission allowing Caterham to use 2014 cars spared the struggling team more time.

 

But now it is only two months before the first race in Australia. While the clock is ticking, nothing has been heard from Caterham. Besides, according to Caterham administrator Henry Shinners, there is still uncertainty as to whether the team would attend the opening test.

 

He said: “Talks with interested parties continue, but if a buyer is not found before the test, we will not put up the money to go.

 

“I wouldn't rule anything out, but if we reach the first race in the same position, the chances of saving the team are virtually nil.

 

“We need to start moving in the next few weeks if a deal is going to get over the line.”

 

What’s more, administrator Finbarr O’Connell indicated that the process needs time.

 

He said: “We are in talks with a few people who have the wherewithal if they decided to go ahead.

 

“But it's a tough investment decision. Formula One is so expensive and there is not a line of people queueing to get in. There are only a very limited number of parties who can afford to get into it. One of those interested is a billionaire who would come into F1 for himself and to promote his products, whilst the other two are in the automotive industry.

 

“These people can all do it, and I would like them to move quicker because there is a limited period of time. But if you are spending £100million you are not going to buy it and rush in at the end and do a half-baked season for 2015. People who are spending that amount of money per season want to do it completely properly.”

 

Nevertheless, he admitted that time is running out and the process must be speeded up.

 

He said: “However, there is only now a small window of time to do 2015 as well as it can be done. My view is we have this month and that's it. It might slip into next month, but only if final details are being resolved.”

 

Well, if you want more information about high performance racing, you can contact Maxspeedingrods for help.

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