أرشيف وسم ‘ Caterham ’

Posted on Friday, November 7, 2014

Caterham launches crowdfunding project

Caterham has launched an ambitious crowdfunding project in an attempt to make it to the Abu Dhabi Grand Prix in two weeks' time. The outfit entered administration in October and missed the United States and Brazilian Grands Prix and it is still seeking new investment in a bid to make it onto the grid in 2015. It has now set a target of £2.35m by November 14 - seven days' time - and has encouraged fans to spread the word via social media. "We are […]

Posted on Wednesday, November 5, 2014

Caterham 'extremely hopeful' of Abu Dhabi presence

Administrators acting on behalf of Caterham's Formula 1 team say they are 'extremely hopeful' that the squad can make it to the season finale in Abu Dhabi. Caterham missed the United States Grand Prix and will be absent from Brazil after entering into administration last month, but it is hoped that the outfit will return to the grid in two weeks' time. "We are now extremely hopeful that we will be going to Abu Dhabi," Finbarr O'Connell told Reuters. "I think I've got enough confidence […]

Posted on Friday, October 31, 2014

Caterham administrators in talks with 'credible' parties

Administrators for the Caterham F1 Team say that they are in discussions with a number of interested parties regarding the potential sale of the squad. Caterham entered administration last week and will not participate in this weekend's United States Grand Prix, but Smith & Williamson say that they have talked to several interested parties, with the ambition of the team returning to the grid in Abu Dhabi. "We remain in conversation with a number of credible, interested parties regarding the sale of the historic Caterham […]

Posted on Thursday, October 30, 2014

FIA urges Formula 1 to cut costs

The FIA says that the absence of Marussia and Caterham from this weekend's United States Grand Prix shows that it was right to push for cost cutting measures earlier this year. FIA President Jean Todt proposed a cost cap which would reduce spending, but his concept was abandoned when he realised that he would not have the required backing from Formula 1 teams. Only 18 cars will participate at Austin this weekend and an FIA statement says that they foresaw the situation. "The FIA has […]

Posted on Wednesday, October 29, 2014

Fernandes: Small teams can't compete

Former Caterham owner Tony Fernandes says that small teams will be unable to compete in Formula 1 unless the sport reduces its spending across the grid. Neither Caterham nor fellow backmarkers Marussia will be present at this weekend's United States Grand Prix after both outfits called in the administrators due to worsening financial problems. Fernandes believes that the situation will continue until the sport resolves its current problems, citing his other business ventures - QPR football club and Air Asia - as examples. "People can […]

Posted on Monday, October 27, 2014

Mosley warns F1 could lose more teams

Former FIA President Max Mosley has warned that Formula 1 could lose more teams due to the current costs of competing in the sport. Marussia and Caterham will miss this weekend's United States Grand Prix after calling in the administrators, meaning that only nine teams will enter a race for the first time since 2005, when BAR-Honda was banned. But Mosley warned that other teams could fall foul of financial problems due to the governance of the sport. "It's not a fair competition anymore," Mosley […]

Posted on Monday, October 27, 2014

Kobayashi apologises to fans for absence

Kamui Kobayashi apologised to fans and says he is evaluating his future opportunities after Caterham entered administration last week. The Leafield-based team has endured a troublesome campaign and administrators took control last Friday following a series of exchanges between Tony Fernandes and Engavest SA. Kobayashi will consequently be absent from at least the next two races, along with team-mate Marcus Ericsson. "Unfortunately, due to team’s situation, I will not able to race in United States GP and Brazilian GP," he posted on his official Facebook […]

Posted on Friday, October 24, 2014

Caterham set to miss next two races

Caterham has been given dispensation to miss the next two Formula 1 races in the United States and Brazil after the team was placed into administration. The squad has endured a tumultuous week with Tony Fernandes and buyers Engavest SA involved in a war of words over unfulfilled contracts, while the latter opted to hand over control of the team to administrators Smith & Williamson on Friday. They revealed that Bernie Ecclestone has given them permission to miss the next two races, while they remain […]

Posted on Friday, October 24, 2014

Caterham hands over to administrators

Caterham F1 Team has confirmed that it has handed over management of the team to administrators, following an escalation of the crisis engulfing the squad on Thursday. A war of words broke out between Tony Fernandes and buyers Engavest SA over who owns the team and whether both sides of the contract had been fulfilled. Caterham confirmed on Friday lunchtime that the squad is now in the hands of administrators as it attempts to resolve the situation in time for the team to race in […]

Posted on Thursday, October 23, 2014

Caterham buyer 'strongly refutes' Fernandes claims

Caterham buyer Engavest SA say they 'strongly refute' the allegations made by Tony Fernandes earlier on Thursday as doubts continue over the future of the Formula 1 team. Fernandes insisted that Engavest had not fulfilled their obligations as the buyer of the squad but the latter have now hit back, claiming that it is the Malaysian businessman who did not adhere to the agreement. "Engavest SA, strongly refutes the allegations of Tony Fernandes and Caterham Group CEO Graham Macdonald regarding its conduct while trying to […]

Posted on Thursday, October 23, 2014

Fernandes blames buyers for Caterham situation

Tony Fernandes says Caterham Formula 1 team buyers Engavest SA did not comply to the conditions agreed when the squad was sold earlier this year. Caterham's situation remains unclear after a series of accusations over the past 24 hours, with Engavest SA claiming that Fernandes did not transfer shares and then later insisting that they adhered to all of the conditions of the sale. But Fernandes, who co-founded the team ahead of the 2010 season, has hit back and says that Engavest SA has not […]

Posted on Thursday, October 23, 2014

Caterham F1 buyer says Fernandes remains owner

Caterham's new buyer insists that it has adhered to all contractual obligations relating to its purchase of the Formula 1 team as disputes continue over who owns the squad. The beleaguered outfit has been placed into administration this week and staff were locked out of the Leafield-based factory when they turned up for work on Thursday morning. On Wednesday the Formula 1 team issued a statement claiming that Tony Fernandes did not transfer the shares to Swiss firm Engavest SA, prompting the Malaysian to hit […]