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What's really going on at Caterham F1?


garcon magnifique
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That would be a real shame and would cost them dear if Sauber were to score points.  Marussia must be a in real pickle if they cannot afford to get the cars over the Atlantic to compete in the two back-to-back races in north and south America.  Surely there is a penalty clause in the contract if they fail to turn up?

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According to Joe S, all teams are allowed to miss three races per season - if they absolutely have to, but there's nothing in the public regs about it.

 

From a sporting and regulatory point of view, each Team that has registered for the Championship is obliged to take part in every event of the season. Any failure to take part, even for just one Championship event, would constitute an infringement both of the Concorde Agreement and the FIA Regulations.

 

Edited by Andy_Bangle
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Manor Grand Prix Racing Limited, trading as the Marussia F1 Team, have appointed administrators and confirmed that they will definitely not compete in the United States Grand Prix. 

 

The company will continue to operate while the joint administrators assess the longer term viability of the Company in its present form.

 

Looks like the FIA will have to change quali 

Edited by Andy_Bangle
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  • 2 weeks later...

From GMM:

"A deeper look into the crowd-funding platform being used, meanwhile, reveals that the accountancy firm for crowdcube.com is actually a company called Smith and Williamson.

It is the very company for whom the chief Caterham administrator, newly self-appointed team boss Finbarr O'Connel, works."

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Caterham will be on the grid at Abu Dhabi:

 

 

We are delighted to announce that we will be racing in Abu Dhabi next week thanks to the support of the fans. THANK YOU

 

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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I read that earlier too, however they've only raised 80% of the target (thanks to one very generous 400k donation - Rubens?) so have extended they deadline by 9 days. Another 9 days to find more fools to donate...

Pity Patently is now the complete racing driver or his parts bill could have sorted the rest :P:bike:

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And the winners of the drivers lottery are Kamui Kobayashi & Andre Lotterer.

 

And the losers, the staff .... Almost 80 per cent of the team is employed by a company called 1MRT (1 Malaysia Racing Team) which is owned by Tony Fernandes. The remaining 20 per cent are employed by Caterham - the part currently under the control of administrators Smith & Williamson led by Finbarr O'Connell.

 

Whilst the 20 per cent remain safe for now, following Friday's announcement, as they're needed to operate the cars in Abu Dhabi, the majority of employees - those at 1MRT - were made redundant on the very same day. 

 

According to a letter from a former employee, sent to journalist Joe Saward, it was made clear that Fernandes has closed the company and owes staff seven weeks pay which they're now unlikely to receive unless legal action is taken. 

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1MRT (1 Malaysia Racing Team) which is owned by Tony Fernandes.

 

Isn't this where the confusion lies?  In simple terms, isn't this something along the right lines?

 

1MRT was owned by Fernandes.  1MRT owns the entry rights.  1MRT owns the huge debts.  Ferndanes says the new owners haven't actually paid up for the sale of 1MRT as agreed, hence the new owners have replied back at him by saying this is therefore Fernandes debt and Ferandes mess to sort out?

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Formula 1 boss Bernie Ecclestone has handed financially-troubled team Caterham a boost as they return to the grid at the Abu Dhabi Grand Prix.

Ecclestone has waived freight costs and chartered a plane for staff attending the season-ending race.

The team, who went into administration in October, are back racing after raising £1.8m from crowd-funding.

 

http://www.bbc.com/sport/0/formula1/30116227

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  • 2 weeks later...

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