garcon magnifique Posted October 7, 2014 Report Share Posted October 7, 2014 (edited) This blog might explain it. Just one opinion of course... http://thejudge13.com/2014/10/07/f1-features-the-caterham-scam/ Edited October 7, 2014 by garcon magnifique Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 7, 2014 Report Share Posted October 7, 2014 So that's where you been getting all Caterham-hate info from - TH13 Twice you've said they won't turn up for a race, and twice you've been wrong. If you keep on guessing you're bound to right one day Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 7, 2014 Author Report Share Posted October 7, 2014 (edited) Nah, that link just came up in a discussion elsewhere. My source * is closer to Leafield than that. I'm happy that my fears have been proved wrong in two races so far. Believe me when I say there has been some remarkable work in the background to make that happen. I hope they manage to complete the season. What happens then is just about anyone's guess. May depend whether all the cards are in Kolle's hand. * ok, my source's source. Apparently. I wouldn't divulge further even if I knew... Edited October 7, 2014 by garcon magnifique Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 7, 2014 Report Share Posted October 7, 2014 (edited) * ok, my source's source. Apparently. I wouldn't divulge further even if I knew... Is it Doris the OAP cleaning lady, the one with a moustache which tickles your tummy every time you pump her for intel...? (Try and get that picture out of your head) Edited October 7, 2014 by Andy_Bangle Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 7, 2014 Author Report Share Posted October 7, 2014 Oi, you leave Doris out of this. I'll have you know she's very important to the team. Only last week she was promoted to garage floor polisher. Link to comment Share on other sites More sharing options...
Arch Posted October 7, 2014 Report Share Posted October 7, 2014 And then laid off when the bailiffs turned up and took the floor? 1 Link to comment Share on other sites More sharing options...
Ian_C Posted October 20, 2014 Report Share Posted October 20, 2014 Something's not right.... http://www.bbc.co.uk/sport/0/formula1/29658585 Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 21, 2014 Author Report Share Posted October 21, 2014 The really scary thing is that there's at least three teams in the same state. Link to comment Share on other sites More sharing options...
eldavo69 Posted October 21, 2014 Report Share Posted October 21, 2014 It's only bad news when it's a Carbon Fibre Vinyl wrap! 5 Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 21, 2014 Report Share Posted October 21, 2014 (edited) Caterham Sports Ltd has gone into administration. Explaining the mess at Caterham http://www.ft.com/fastft/223342 Basically there is a company that owns the F1 entry, another company ran the team on behalf of the entrant, that company has been placed into administration. Meantime a new company has been set up to run the team. Fernandes had set thing up like this, the new owners are basically trying to pull the team out of the mess. It should be noted that the company that has been placed into administration is no surprise - this was put into motion a week or two ago. Basically they've rescued anything of value and moved it to 1MRT and let Caterham Sports go bankrupt - this company had debts. So, by letting it go bankrupt it writes off some of the debts but the team, equipment and people are safe (for now). The struggle now will be getting suppliers to trust them enough so that they can still buy stuff that they need. It also appears that they are looking for a new base, this is probably also financially related in some way. Edited October 21, 2014 by Andy_Bangle Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 21, 2014 Author Report Share Posted October 21, 2014 (edited) The new base will, allegedly, be in Germany. Time will tell whether, come next season, the name over the door is Caterham. Edit: At least that's one version of events. Here's a good link to Joe Saward's blog by the way: http://joesaward.wordpress.com/2014/10/20/explaining-the-mess-at-caterham/ Joe seems to be impying that the new owners are the knights in shining armour trying to solve the mess left (intentionally or otherwise) by Fernandes. If I thought he would (or could) answer, I'd like to ask him who he honestly believes is the bigger crook: Fernandes or Kolles. Edited October 21, 2014 by garcon magnifique Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 21, 2014 Author Report Share Posted October 21, 2014 Oh, interesting comment from Joe when asked about The Judge 13 (the blogger I linked to at the start of this thread).... "He doesn't know his arse from his elbow." To be fair I'm more inclined to believe Joe than some anonymous rumour mill blogger. Although he's not entirely looking at this from the outside. Link to comment Share on other sites More sharing options...
CarMad Posted October 21, 2014 Report Share Posted October 21, 2014 Not a great state of affairs is it and the probably numerous other suppliers that will have lost money, fingers crossed it gets sorted out without too much pain all concerned. Link to comment Share on other sites More sharing options...
Scotty Posted October 21, 2014 Report Share Posted October 21, 2014 Basically they've rescued anything of value and moved it to 1MRT and let Caterham Sports go bankrupt - this company had debts. So, by letting it go bankrupt it writes off some of the debts but the team, equipment and people are safe (for now). And feck the suppliers that our now not gonna get paid? It must be gutting when you've lost thousands to see the same people playing in an expensive sport. Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 22, 2014 Report Share Posted October 22, 2014 (edited) After several false starts it looks like tip-offs maybe coming true as in a strongly worded statement from Caterham F1's chiefs tonight - saying administrators actions have had 'devastating effect' on F1 operation. (Reuters) - The future of the struggling Caterham Formula One team was thrown into further doubt on Tuesday when an administrator laid claim to their race cars and warned they could not leave the factory without his agreement. Team sources disputed that, however, and said they should not be affected by legal action involving a separate company to the one that holds the official entry rights to the championship and owns the cars. Finbarr O'Connell, appointed on Friday as a joint administrator of Caterham Sports Limited (CSL) for London-based Smith & Williamson, told Reuters he hoped the situation could be resolved in the next few days. The cars are due to leave the factory in central England at the weekend to be flown to Austin, Texas, for next week's U.S. Grand Prix. More: http://www.reuters.com/article/2014/10/21/us-motor-racing-caterham-idUSKCN0IA2F420141021 Edited October 22, 2014 by Andy_Bangle Link to comment Share on other sites More sharing options...
patently Posted October 22, 2014 Report Share Posted October 22, 2014 Oh my word Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 22, 2014 Author Report Share Posted October 22, 2014 Kolles still trying to paint himself as the knight in shining armour then... Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 23, 2014 Report Share Posted October 23, 2014 James Allen blogged this last night: http://www.jamesallenonf1.com/2014/10/caterham-in-battle-to-make-us-grand-prix-as-new-owners-turn-on-fernandes/ Will they be reincarnated as Forza Rossa (asset/personnel grab)? Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 23, 2014 Report Share Posted October 23, 2014 Bernie Ecclestone says he would welcome the collapse of Caterham, believing it would be better for the sport. He compared their situation to street beggars, which he believes to be bad for F1's image. I think it's better they go, I don't want people going around with begging bowls. I don't know who owns them, I don't know and I don't care. Let me tell you something, they will tell you whatever suits them to tell you. Bernie is keen to see a handful of teams collapse in order to force the eight most competitive teams to field three cars each instead of two, so his comments are understandable. Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 23, 2014 Report Share Posted October 23, 2014 (edited) Another breaking story from the BBC Caterham Sports Limited staff locked out of Oxfordshire site Staff working for the Caterham F1 team have been locked out of the firm's Oxfordshire site, the administrator has confirmed to the BBC. Finbarr O'Connell, from Smith & Williamson, said Caterham F1 operator 1MRT had made an "inadequate" offer to continue using the Leafield site. Smith & Williamson owns the building, where the F1 cars were made. Mr O'Connell said he was trying to resolve the situation with 1MRT, but until then has locked staff out. Employees from Caterham Sports Limited were transferred to 1MRT when the company was placed into administration. Another blog piece from Joe Saward: http://joesaward.wordpress.com/2014/10/23/knock-on-effects/ Edited October 23, 2014 by Andy_Bangle Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 23, 2014 Author Report Share Posted October 23, 2014 My source's inside source is, er, no longer inside. Got as far as the car park. I really wouldn't want to trust Kolles long term but he does at least seem to have been trying all sorts of tricks to keep things going and keep staff employed. I'm not sure they know who they work for anymore never mind anyone else. Not sure if all this hassle would have been saved if Fernandez played ball of if they'd just find themselves in a slightly different shade of sh!t. Off topic here, but it makes you wonder what will happen to QPR. Link to comment Share on other sites More sharing options...
Ian_C Posted October 23, 2014 Report Share Posted October 23, 2014 Fernandes breaks silence http://www.autosport.com/news/report.php/id/116467 G, I really wouldn't want to trust either of them..... Link to comment Share on other sites More sharing options...
Andy_Bangle Posted October 24, 2014 Report Share Posted October 24, 2014 Caterham to miss both US and Brazilian races. Link to comment Share on other sites More sharing options...
garcon magnifique Posted October 24, 2014 Author Report Share Posted October 24, 2014 Of all the internet blogs been linked to I think this one is the most accurate: http://sniffpetrol.com/2014/10/24/caterham-dispute-escalates/#.VEqVLSLF_h6 So, the administrators have effective control of the whole shooting match, CSL, 1MRT and so on, and have put it up for sale as a going (ish) concern. Bernie has given them dispensation to miss US and Brazil but hopes new owners will be in place by Abu Dhabi. So the next question, for the next Grand Prix at least, is what sort of shape are Marussia in? Could they be about to threaten Bernie's commitment to field 20 cars? Link to comment Share on other sites More sharing options...
Ian_C Posted October 24, 2014 Report Share Posted October 24, 2014 Marussia are sitting pretty at present, 9th in the Championship ahead of Sauber and Caterham, the prize money must be worth a fortune to a team with a tiny budget like theirs? Link to comment Share on other sites More sharing options...
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