Time running out for Caterham

Date published: January 6 2015

The clock is yet again running against Caterham who have until the end of January to find a buyer for the beleaguered Formula 1 team.

Last year Caterham went into administration and failed to contest either the United States or Brazilian grands prix.

Turning to crowdfunding, the team raised the necessary funds to return to the grid for the season-ending Abu Dhabi GP and in doing so made the team a viable option for a new buyer.

However, despite talks progressing with three potential buyers, no one has yet agreed to take on the backmarker outfit.

Speaking to Press Association Sport, Finbarr O’Connell said: “We are in talks with a few people who have the wherewithal if they decided to go ahead.

“But it’s a tough investment decision. Formula One is so expensive and there is not a line of people queueing to get in.

“There are only a very limited number of parties who can afford to get into it.

“One of those interested is a billionaire who would come into F1 for himself and to promote his products, whilst the other two are in the automotive industry.”

The administrator with Smith & Williamson, who in Abu Dhabi took the role of F1 team boss, is however confident that a deal will be done.

“These people can all do it, and I would like them to move quicker because there is a limited period of time.

“But if you are spending