Caterham administrators won't finance testing
8 January 2015 – Caterham's administrators have said that they will not fund the team to attend the first pre-season test of 2015 if a buyer is not found in time.
Caterham entered administration last October, made over 200 staff redundant and missed two races, but returned in Abu Dhabi partly thanks to a crowd-funding effort.
Administrators Smith & Williamson allowed the team to race at the final round of the 2014 season and remained in Abu Dhabi for two days of testing afterwards, with youngster Will Stevens behind the wheel of the CT05.
But joint administrator Henry Shinners says that they will not fund the team to attend the pre-season test in Jerez between February 1 and 4 and acknowledges that time is running out.
"Talks with interested parties continue, but if a buyer is not found before the test, we will not put up the money to go," Shinners told BBC Sport.
"I wouldn't rule anything out but if we reach the first race in the same position, the chances of saving the team are virtually nil. We need to start moving in the next few weeks if a deal is going to get over the line."