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Caterham raises enough money to race in Abu Dhabi

  • Published on 14 Nov 2014 15:28
  • comments 1
  • By: Rob Veenstra
Caterham F1 Team will rejoin Formula 1 next week. The crowdfunding project has been succesful. Caterham has raised enough money to travel to Abu Dhabi and cover the costs for the last Grand Prix of the season, the team confirmed on Twitter.

Finbarr O'Connell, administrator for Caterham F1 Team, has given the green light to go racing at Yas Marina Circuit. The $3.7m crowdfunding target has not yet been reached, but the gap is now small enough to justify a trip to Abu Dhabi.

Finbarr O'Connell of Smith & Williamson, joint administrator of Caterham Sports Limited: "We set ourselves a major challenge, but it's definitely been worth it! In only a week the fans have made the impossible, possible. We knew that the best way to keep this team alive and attract possible buyers was to show that it's still a racing team and be in Abu Dhabi for the finale, and there aren't enough words to say how grateful we are to all the fans that have made this possible."

"We now head to Abu Dhabi ready to show what a hard-working and positive group of people this is and to hopefully secure a future for the team. During the past few days the interest of many potential buyers has increased massively and by racing in Abu Dhabi the team will be showcasing itself as a live and functioning team that deserves to continue into 2015 and beyond. It has hard-working people, team spirit and experience and now it only needs a secure financial future which I'm very hopeful we can achieve. Once again, I'd like to reiterate that we are racing in Abu Dhabi thanks to all the fans out there – an achievement that will go down in F1 history and one that we can all be very proud of. We still need to raise a bit more cash so please do keep an eye on the Crowdcube website. Let's go racing!"

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  • Was there ever a bettter or more timely example of precisely the kind of F1 support that is recruitable via social media (AND not undersood by Bernie Ecclestone)? Probably not.

    A stirling gesture by Caterham fans and general supporters of a grid with smaller teams participating on their own (and not as 2nd's to some large manufacture). However, in the total scheme of things, this team trip to Abu Dhabi may not mean much unless someone does soon buy the Caterham assets amd keep it going.

    • + 0
    • Nov 14 2014 - 16:32

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