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Caterham still battling on hoping to be part of the 2015 F1 Season

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Caterham still battling on hoping to be part of the 2015 F1 Season
Dec 26, 2014, 9:20 AM

The administrators of the Caterham F1 team remain optimistic that the team will be on the grid for the first race of 2015 in Melbourne following a ...

The administrators of the Caterham F1 team remain optimistic that the team will be on the grid for the first race of 2015 in Melbourne following a creditor's meeting this week.

And the FIA has kept a provisional spot open for them on its 2015 F1 entry list, along with Manor Grand Prix, which is the rump of the old Marussia F1 team.

Henry Shinners, the joint administrator of the squad confirmed this week that talks are ongoing with a number of interested parties about purchasing the assets and taking over the team's entry for the upcoming season. “Our dialogue with prospective interested parties continues,” Shinners told Sky Sports.

“We are grateful to creditors for their endorsement of our strategy and work. We remain hopeful that the Caterham Formula 1 team can be saved and be on the grid in Melbourne for the first race of 2015.”

Motor Racing - Formula One Testing - Abu Dhabi Test - Day One - Abu Dhabi, UAE

Reports suggest that the administrators Smith and Williamson have requested more time and flexibility to negotiate the sale of the team and its assets on behalf of the creditors led by engine supplier Renault and that this has been forthcoming, which indicates that the administrators believes the prospective buyers are genuine candidates. A meeting of creditors on December 22 was asked to endorse the administrators' plans for the team.

While work at the Leafield factory stopped before the final race of the season, rules stability means the team's 2014 cars remain eligible for the 2015 season.

Motor Racing - Formula One World Championship - Abu Dhabi Grand Prix - Practice Day - Abu Dhabi, UAE

Shinners' colleague Finbarr O'Connell, who attended the final race of the season in Abu Dhabi as team principal, has previously stated his belief that the team's attendance at the final race after missing the previous two events was an important showcase which helped ignite interest from prospective buyers.

The team is effectively moribund having laid off its staff in the closing weeks of the season, Shinners and O'Connell are confident that qualified personnel can be sourced to run the company.

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