Formula One supremo Bernie Ecclestone has given special dispensation to Caterham to miss the next two grands prix whilst a buyer is sought for the cash-strapped marque.
A statement issued by the administrators in London-based accountancy firm Smith & Williamson has effectively confirmed Caterham will not be in a position to compete in next weekend’s United States Grand Prix and the subsequent race a week later in Brazil.
Administrator Finbarr O’Connell, who was forced to close the gates to the team’s factory at Leafield on Thursday, has told Caterham staff not to return until a deal has been concluded.
Hope has been expressed that a buyer of “substantial financial means” can quickly be found in order for Caterham to be back on the grid for the final race of the season in Abu Dhabi on November 21-23.
Ordinarily, should a team miss a race for any reason they would be punished by Ecclestone, but given the circumstances in this case he has opted to be lenient.
The statement read: “In a telephone conversation today between Finbarr O’Connell and Bernie Ecclestone, Mr Ecclestone agreed to support the administrators in their wish to sell the Formula One team to a party with the financial strength to sustain it into the future.
“Mr Ecclestone also agreed to give dispensation to Caterham F1 such that it could, if necessary, miss the US and Brazilian Grands Prix, but hoped that a new owner would be in a position to race the team at the Abu Dhabi Grand Prix. Mr Colin Kolles, the previous principal of the team, offered today to hand over management control of 1MRT to the administrators.”Reuse content