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Caterham takeover complete 'in weeks'

Caterham F1's administrators hope that a deal to save the team can be completed over the coming weeks.

After missing both the United States and Brazilian Grand Prix, Caterham returned to the paddock in Abu Dhabi.

A controversial crowd-funding project which was launched at the Brazilian Grand Prix raised £1.9million and provided the springboard to get them into the F1 paddock.

The figure was still a short of the previously announced target of £2.35million which was set to get Caterham back on the grid in Abu Dhabi, however administrator Finbarr O'Connell was confident enough that it would be enough that he took Caterham out to Abu Dhabi.

They did however receive an unexpected added help as Formula boss Bernie Ecclestone waived the freight costs and chartered a plane for staff attending the season-ending race.

With Marcus Ericsson severing his ties with the team ahead of his move to Sauber for 2015.

Caterham auctioned off the seat to Will Stevens who had previously worked with the team.

Administrator Finbarr O'Connell was desperate to get the team out to Abu Dhabi for the final race of the season and he made his rather awkward step into the media spotlight over the weekend.

The idea behind making the race was so to demonstrate the level of the team and he believes talks are going well and a deal could be wrapped up within weeks.

'I am honestly talking to somebody who would like to take this over within the next month,' he told the BBC.

'They (the potential buyer) would like to take it over with the same people, as the same team with the same infrastructure, and that would be the dream result for me. It would be absolutely fantastic.'

'this is somebody who actually knows it [Formula One], and who wants to do it.

'If it's serious and it goes ahead then we'll announce things as soon as we can.'








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The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Wednesday November 26 2014

Time: 9:00AM

 

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