Buyers interested in Caterham, says administrator

The administrators for Caterham Sports Ltd claim that they are talking to potential buyers for the F1 team.

Smith & Williamson have also taken control of 1MRT, the entity that actually owns the F1 team’s entry.

In a statement the company said: “We remain in conversation with a number of credible, interested parties regarding the sale of the historic Caterham F1 racing team.

“Our current strategy is to seek a buyer that will allow the team to compete in the final race of the season in Abu Dhabi on 23 November 2014 and we are doing all we can to make that happen. However, if a deal cannot be finalised in time, then the strategy is to secure a buyer to allow the team to compete in the 2015 F1 championship.

“We are working with our specialist Corporate Finance team to manage the sale process and we have received several expressions of interest from parties with the financial strength to fund a F1 race team. These conversations are ongoing. We believe this approach will maximise the assets of the broader Caterham F1 team and so enable the best outcome for creditors and other stakeholders, including employees of 1MRT.”

One thing that has not been addressed is the fact that in theory entries for the 2015 World Championship have to be filed – and paid for – by November 1.

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