Friday, 31 October 2014

Caterham have two weeks to find a buyer

(Frederic Le Floc'h DPPI for Renault Sport F1)

Henry Shinners, one of the administrators appointed to look after the sale of the Caterham F1 Team has confirmed that the team have two weeks to find a buyer and if one is not found by then the team will be wound down.

Speaking at the team HQ in Leafield  Mr Shinners confirmed that they are in discussions with several parties interested in purchasing the team but that of yet no agreement has been reached.

Finbarr O'Connell the other administrator dealing with the Caterham sale is in Austin this weekend for discussions with the FIA and Bernie Ecclestone (the commercial rights holder). Mr Shinner confirmed that the 200 employees at the factory in Leafield who work for 1MRT the company that holds the licence to race in F1 have had no contact with the Malaysian company and are in the dark about the situation.

In Austin on Friday it was denied that the Sauber F1 Team and Caterham had been in discussions about the possibility of a merger.

© Ben Johnston 2014

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