Caterham staff locked out of factory

By on Thursday, October 23, 2014
Caterham F1 Team

Caterham F1 Team

Caterham staff have been locked out of the team's Leafield factory by administrators as doubts grow over whether the squad will be able to compete in next weekend's United States Grand Prix.

Caterham's current owners issued a statement on Wednesday evening threatening to quit the Formula 1 team amid accusations that former owner Tony Fernandes has not transferred the relevant shares - and consequently remains the owner of the outfit.

On Thursday Finbarr O'Connell, joint administrator for Caterham Sports Limited - the supplier to the Formula 1 outfit - confirmed that staff members had been refused access to the premises at Leafield.

He also confirmed that talks will continue today in a bid to resolve the future of the Formula 1 team.

"They can't get into the factory today," he told Reuters.

"Effectively 1MRT have been in the building for last few days since I arrived

"We are trying to reach an acceptable arrangement for them to be there. We had a meeting yesterday with 1MRT and lawyers and the offer they made was unacceptable. So I've sent them away.

"Hopefully they can come up with an acceptable proposal. I don't think this is gone. It's just a case of who has got the money to make it work."

Under contracts with Formula One Management every team must compete in all rounds of the championship, unless they can prove force majeure.

 


If you liked this post then share it with your friends on social media websites. You can also follow us on Facebook and Twitter to stay up to date with the latest F1 news.