Caterham F1 Team in Administration and will miss US and Brazilian Grand Prix

It was announced last week (21/10/14) that Caterham F1 Team had entered administration. It has been announced yesterday (24/10/14) that Engavest who was the consortium of Swiss and Middle Eastern investors bought the team from previous owner Tony Fernandes has withdrawn its management team.



And was confirmed that Caterham team is now in the hands of administrators Smith & Williamson, as a final attempt to save the team.

Caterham F1 Team will miss the next two races after Bernie Ecclestone gave the squad special dispensation to skip both the United States and Brazilian Grand Prixs' as the team searches for a new buyer.

First of all, personally I very feel sorry for the drivers and the staff at the team at this moment of time, with a strong possibility that they may lose their jobs.

Secondly, from the previous post, when Engavest who was the consortium of Swiss and Middle Eastern investors bought the team was this is good news for the team they need? and ask me in six months what the new owners do with the team now? and within four months, a very bad choice.

Starting with sacking over 40 former employees, which the sacked employees are taking legal action against the team for unfair dismissal, following a number of cost cuts by its new owners in late July. Dropping Kamui Kobayashi for Spa to replacing him with André Lotterer for that Grand Prix, despite Kobayashi is a paying for his drive. Not improving on track results, and Christijan Albers who was the team boss resigned after Monza due to finical reasons with the team. Which tell you this Swiss and Middle Eastern consortium do not have the money for Formula 1 and possibly destroying lifes' in a Grand Prix team.

Will we see this team at Abu Dhabi in four weeks time? who knows. But, personally I think this could be the end of Caterham in Formula 1.

Let's hope Caterham Team find new owners, who do have the money to compete in Formula 1.

End of blog for now, new post soon. Bye.