Connect with us

Caterham F1

Caterham and Marussia nears the end of the line

Published

on

7710100592_437826ca1a_zCaterham and Marussia are nearing the end of the line as other teams move preparations for the 2015 season into high gear.

With just 26 days until the winter test season begins in Spain, neither of the beleaguered backmarkers are committing to running at Jerez at the start of February.

“Talks with interested parties continue,” Caterham administrator Henry Shinners told the BBC, “but if a buyer is not found before the test, we will not put up the money to go.”

The team has arranged to be allowed to run its 2014 car and engine this year, but Shinners warned that any rescue deal would need to be in place within a “few weeks”.

“I wouldn’t rule anything out,” he said, “but if we reach the first race in the same position, the chances of saving the team are virtually nil.”

It is a similar but perhaps even more dire situation for Marussia, whose debts only grew by $45,000 in a failed bid to make the Abu Dhabi grid late last season, Forbes’ Christian Sylt reported.

Not only that, crucial team equipment has been auctioned in a bid to pay back creditors, staff are laid off and even the Banbury headquarters could be sold to the new American 2016 team Haas.

Now called Manor, the team formerly known as Marussia’s last hope is that an eleventh-hour investor might step in so that millions in official prize-money for finishing last season in ninth place can be unlocked.

“There’s still a slim hope,” team boss John Booth told the Yorkshire Post, “but it’s getting extremely late.

“We’ve got two weeks to complete something by. So there’s still a chance,” he added. “We are talking to investors and they are positive talks.” (GMM)

Comments

Latest Results




Latest F1 News

2018 F15 hours ago

Bottas signed, Mercedes completed its driver line-up for 2019

147SharesValtteri Bottas has signed a new one-year contract extension with Mercedes, his team Mercedes have officially announced. It follows Mercedes...

2018 F16 hours ago

We are not negotiating with Kubica – Haas F1

1ShareGunther Steiner has rejected speculation Haas might sign up Robert Kubica for 2019. Pole Kubica is the reserve driver at...

2018 F17 hours ago

The F1 Silly Season: Who will be driving where for 2019 F1?

4SharesWith the German Grand Prix spotted the midway point in the 2018 Formula 1 Season, it now feels like the...

2018 F11 day ago

F1 should be a dictatorship – Berger

11SharesFormula one needs to return to its days as a dictatorship. That is the view of Gerhard Berger, the F1...

2018 F11 day ago

We have great confidence in Honda – Red Bull

1ShareChristian Horner remains confident Honda is the right move for Red Bull. The Red Bull boss said that at Silverstone...

2018 F11 day ago

F1 steward Mika Salo admits Ferrari penalties controversy

11SharesF1 steward Mika Salo has acknowledged the controversy over penalties given to Ferrari drivers in recent races. After Sebastian got...

2018 F11 day ago

McLaren, Williams, admit need for change

73SharesAn anonymous engineer says struggling once-great F1 teams Williams and McLaren need to make sweeping changes. Both British teams have...

2018 F12 days ago

Hamilton is stronger than Vettel – Briatore

260SharesFlavio Briatore thinks Mercedes is still the favourite for the 2018 world championship. Ferrari’s Sebastian Vettel has taken an 8...

2018 F12 days ago

Sirotkin reveals his biggest problem with Williams’ 2018 car

2SharesSergey Sirotkin has given more details about his biggest problem with Williams’ 2018 car. While the car is obviously uncompetitive,...

2018 F12 days ago

F1 eyes 20-year deal for Miami Grand Prix

1ShareYet another meeting could finally mean the green light for a grand prix in Miami. We have reported that Liberty...




Most Popular

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV, Formula One World Championship Ltd or any other organization or entity associated with the official Formula One governing organizations or their shareholders. Copyrighted material used under Fair Use/Fair Comment.

References
We could use the following leading F1 news sources for stories: SkyF1, BBC F1, Autosport, ESPN F1, FIA Media Center, MotorSport, JamesAllen and others leading authors blog.

All Rights Reserved © 2017 Prime Sport Media