Caterham logo - Photo Credit: Drew Gibson/GP2 Series Media Service

The Caterham logo is set to be seen in FR3.5 this year - Photo Credit: Drew Gibson/GP2 Series Media Service

theCheckeredFlag.co.uk have discovered that Caterham and junior racing team Arden Motorsport are set to join forces.

The Caterham F1 Team have stated on their website, under their Driver Development Program section, that Alexander Rossi will contest a second season of the Formula Renault 3.5 Series, driving for the Arden Caterham Motorsport team. The American, who finished third in FR3.5 in 2011, had been expected to race for Caterham's GP2 squad this year.

An internet search for 'Arden Caterham Motorsport' reveals that Arden Motorsport Limited were renamed Arden Caterham Motorsport Limited in November 2011.

Arden are a new entry into Formula Renault 3.5 for 2012, after success in Formula 3000 and later GP2. The team was formed by current Red Bull Racing team principal Christian Horner when he was trying to forge a racing career of his own in the 1990s.

While they do seem set to collaborate in FR3.5, it remains to be seen whether Arden and Caterham will continue to run their own teams in GP2 or merge them. Arden's GP2 operation has slumped towards the back of the grid in recent seasons, finishing 11th of the 12 teams in the championship in 2011.

The news comes after reports that Arden's long-term F3000/GP2 rivals Super Nova Racing are at risk of closing down after hitting serious financial problems.