Vitaly Petrov's manager admits Caterham was the Russian's "only possibility" to stay in Formula One this season.
"We knew this a few days ago, about the decision of the team, which we have to respect," Oksana Kosachenko, referring to Dutchman Giedo van der Garde's deal for 2013, is quoted by R-Sport.
"I wouldn't say we didn't expect it."
Kosachenko said she will now look at what other options there are, such as a test driver seat for 28-year-old Petrov.
"We have a few offers for Vitaly to stay in F1 and around the paddock, so we have to decide what is the best for him," she said, adding that a race seat outside F1 is "likely not" an option.
She expressed disappointment in Russian companies and also the organisers of the new Russian grand prix, which will take place in Sochi in 2014.
"We have to do something to promote the Sochi grand prix, and this is a bad mistake they are doing," said Kosachenko, indicating the race organisers turned down her request for sponsorship.
Lamenting the sport's current situation, she added: "Formula One is really expensive at the moment.
"Actually it isn't a sport at the moment, it's tending to be a show, and I believe that we have more and more and more rental drivers."
Ironically, Petrov was initially branded a 'pay driver' when he debuted in 2010, but Kosachenko argues: "I believe that a driver who has shown his possibilities in Formula One within three years deserves to be supported."