Talk Morgan Forums Community Vehicle Talk (non-Morgan) Caterham F1 into Administration

I've just read this on the BBC Website which sadly this doesn't look like good news for Caterham F1:

http://www.bbc.co.uk/news/uk-england-oxfordshire-29738116

I wonder if Tony Fernandes could see the writing on the wall back in July?

Hopefully, it won't have any adverse effect on Caterham Sports Cars.

I wonder if he's lost more money on the F1 team or on QPR.

Sounds like a cash flow problem or the landlords is trying to increase the rent. Real shame it has to end like this.

Thing is they didn't do very well really did they , the little sports cars are excellent and I think I will get an SV at some stage when the wife's not looking , a bit more comfort than a series 3 and still very very fast indeed !

From today's news it sounds like they are a goner ...sadly

There is war of words where Fanandes has been accused of not handing over all the shares and he's retorted that he hadn't been paid for them

So the supposed new owners have been funding the team at a huge loss without fully owning it

Plus whoever owns it is facing massive legal battles from unfair dismissal claims from last year

But whatever has happened it seems the consortium isn't funding it's way and they are not going to get to the USA F1

A total mess

Seemingly they've been allowed to miss the next two races. Doesn't look good overall.

Regrettably, proof that "small budget" teams cannot compete with the big boys in F1 - and as a result the question is "why do it?".

If you're going to be 13th or worse (with a few retirements from the bigger teams), how does the publicity of "13th at Singapore" translate into a Caterham wanna-have saying "yes, that 13th is good enough to tip the balance - I'll have one ta very much"?

Thanks to Bernie, it's a bottomless pit these days and only with big engine/car manufacturer sponsorship can you hope to compete - or even continue - in the long term?

Feel sorry for the mechanics & back room staff who will all be collecting P45s and hoping to move on to a bigger team for 2015.

Cheers

I agree Jeremy

I've never understood it really, who wants that kind of publicity, coming last all the time and such a huge expense

Bit more info on Piston Heads today:

http://www.pistonheads.com/news/default.asp?storyId=31072

As others have said, when you're constantly running at the back of the grid, and in effect making the numbers up, the future doesn't look good.

In the text I note that Bernie Ecclestone says he wants the team on the grid...
Maybe if he hadn't spent millions buying his way out of the bribery trial in Germany he could have put his hand in his pocket to help

Bernie must have some cash left after the trial surely ? maybe we need to set up a charity to help him and his daughters ?