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Management hand-over allows Caterham to continue

  • Published on 24 Oct 2014 13:46
  • comments 0
  • By: Rob Veenstra
Caterham F1 Team is saved, for the time being. License owner 1MRT has agreed to hand-over management to administrator Finbarr O'Connell in order to keep the team alive. Caterham will prepare for the next events and may be able to finish the season after all.

Caterham has issued out this statement: "Following a request of yesterday evening at 21.55hrs CET from Caterham Sports Limited's administrators and the legal advisors of Mr Tony Fernandes' related EXIM Bank, representatives of 1MRT/Caterham F1 Team have agreed, with all rights reserved, to hand-over management of the Caterham F1 Team to the adminatrator Mr Finbarr O'Connell in the higher interest of allowing the team to continue operating and preparing for the next events."

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