Formula 1

Caterham to race in Abu Dhabi after crowdfunding project success

2 Mins read

There will be at least twenty cars on the grid in Abu Dhabi after the administrators looking after the Caterham F1 Team confirmed they will be competing in Formula 1’s finale in the desert next weekend after all.

The crowdfunding project aimed at raising enough money to enable the team to return to F1 after missing the last two events in the United States and Brazil while in administration, made possible through Crowdcube, has raised considerable amounts of revenue for the team, and it is with this support that the team have confirmed its appearance in Abu Dhabi.

Finbarr O’Connell of Smith & Williamson, joint administrator of Caterham Sports Limited was happy that the crowdfunding project, set up only a week ago, has enabled the team to rejoin the F1 field in Abu Dhabi, and is thankful for the support shown to the team since the last-ditch attempt to save the team was launched.

“We set ourselves a major challenge, but it’s definitely been worth it,” said O’Connell. “In only a week the fans have made the impossible, possible.

“We knew that the best way to keep this team alive and attract possible buyers was to show that it’s still a racing team and be in Abu Dhabi for the finale, and there aren’t enough words to say how grateful we are to all the fans that have made this possible.

“We now head to Abu Dhabi ready to show what a hard-working and positive group of people this is and to hopefully secure a future for the team.  During the past few days the interest of many potential buyers has increased massively and by racing in Abu Dhabi the team will be showcasing itself as a live and functioning team that deserves to continue into 2015 and beyond. 

“It has hard-working people, team spirit and experience and now it only needs a secure financial future which I’m very hopeful we can achieve.  Once again, I’d like to reiterate that we are racing in Abu Dhabi thanks to all the fans out there – an achievement that will go down in F1 history and one that we can all be very proud of.

“We still need to raise a bit more cash so please do keep an eye on the Crowdcube website. Let’s go racing!”

The line-up for the team has yet to be confirmed, but Marcus Ericsson has already confirmed he will not be competing for Caterham in Abu Dhabi after severing ties with the team last week. Kamui Kobayashi is still under contract with the team but could be forced to miss the event if drivers bringing sponsorship money to team come forward to race.

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