Connect with us

2014 F1

F1 Caterham staff made redundant

Published

on

14372055228_712df188a9_o-630x420
On the very day Caterham announced it will return to the grid in Abu Dhabi, the F1 team’s entire staff was made redundant.

After a controversial crowdfunding scheme raised $3 million for the embattled backmarker, administrator Finbarr O’Connell announced that Caterham is heading to Abu Dhabi for the 2014 finale.

A statement said it was made possible “through Crowdcube, the world’s leading investment crowdfunding platform”.

Crucially, Crowdcube’s service accountancy and tax adviser is Smith and Williamson — the company Caterham administrator and interim team boss O’Connell works for.

So with O’Connell now faced with claims the crowdfunding project was at least in part a PR exercise, it now emerges that on the very same day it was declared a success, Caterham’s 230 race team was made redundant.

Senior aerodynamicist Jim McManus told The Observer newspaper: “It is dismaying to see the amount of publicity surrounding the success of the crowdfunding on the same day that the entire workforce was made redundant while owed seven weeks’ salary.

“The cynic in me would suggest that the two are not unrelated, and the good news has served as a convenient opportunity to bury the bad news,” he added.

O’Connell, however, who is team boss for now but says his intention is to appoint an alternative, claims that staff actually wanted to be made redundant.

“It is a crazy situation but the most ironic thing is that the majority of the team were pressing me to make them redundant so their redundancy claim forms could be up and running while I try to sell the team,” he said.

“If I sell the team they will be re-employed by the purchaser and those claim forms will effectively be ripped up.”

As for the timing of the Abu Dhabi announcement and the redundancy letters being received by staff, O’Connell added: “I could not issue redundancy letters until Friday because it was only then that I was appointed administrator to 1MRT”.

But McManus insists that some staff “actively indicated that they did not want to be made redundant”. (GMM)

Loading...

Comments

Latest F1 News

Latest F1 News

2019 F12 months ago

Vettel ‘has no future at Ferrari anymore’ – Red Bull boss

Sebastian Vettel has “no future at Ferrari”, according to his former boss Dr Helmut Marko. Despite having arguably the fastest...

2019 F12 months ago

Leclerc girlfriend reveals Ferrari’s F1 star ended relationship with her

Charles Leclerc’s former girlfriend has revealed that the Ferrari driver “left me” in order to focus on his Formula 1...

2019 F12 months ago

Hamilton seizing advantage of Vettel DNF to seal Russian GP

Championship leader Lewis Hamilton took the advantages with the Russian Grand Prix victory after race leader Sebastian Vettel’s retirement. During...

2019 F12 months ago

McLaren split with Renault for Mercedes in 2021 F1

McLaren split with engine supplier Renault over a disagreement about Formula 1 strategy, according to Cyril Abiteboul. “It was apparent...

2019 F12 months ago

The manager says secrecy around Schumacher’s health is “difficult” to understand

News of the Seven time F1 world champion, Michael Schumacher being “out of a coma” went viral on June 2014,...

2019 F12 months ago

Mercedes no favourite at remaining races in 2019 – Hamilton

Mercedes will no longer be the favourite at any of the remaining races in 2019, according to Lewis Hamilton. Despite...

2019 F12 months ago

Renault F1 criticises FIA over penalty

Cyril Abiteboul has accused the FIA of being inconsistent about how it hands out penalties for sporting and technical infractions....

2019 F12 months ago

Ferrari ‘hungrier than Mercedes’ – Hamilton

Championship leader Lewis Hamilton criticised Mercedes after the Singapore GP. The Briton was not even on the podium on Sunday,...

2019 F12 months ago

Hamilton warns he could lose 2019 F1 title

Lewis Hamilton has warned Mercedes that he risks not winning the 2019 world championship. The Briton’s championship lead is actually...

2019 F12 months ago

Charles Leclerc is Ferrari’s “No: 1 driver” – JJ Lehto

Charles Leclerc is now Ferrari’s “number 1 driver”. That is the view of JJ Lehto, who was once the supporting...

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