Caterham's assets put up for sale

By on Thursday, February 5, 2015
Caterham F1 Team

Caterham F1 Team

Caterham's hopes of a Formula 1 return have been dashed after administrators put the team's assets up for sale.

Caterham has been in administration since October last year but Smith & Williamson had been hopeful of securing a new buyer so that the team could return to the grid.

However, on Thursday the squad's assets were put up for auction, meaning that a return for the team is nigh-on impossible.

"Acting for the Joint Administrators Finbarr O’Connell, Henry Shinners and Anthony Spicer of Smith & Williamson, Wyles Hardy & Co have been instructed to realise the assets of the Caterham F1 race team," a statement read.

"A series of online timed auction sales will be held covering the race equipment, engineering facility, F1 memorabilia, IT and communications, office furniture and as well as private treaty sales for the Race Trailer Fleet, the state of the art Race Simulator, Dell HPC super computer and Autoclaves.

"The first Auction will focus on the race support and pit lane equipment including the 2014 chassis’ and show cars and is scheduled for early March."

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