Caterham administrator refuses to give up
22 January 2015 – Caterham's administrator has refused to give up on finding a new buyer for the 2015 season.
Caterham entered administration in October of last year, missing the US and Brazilian rounds before returning at the season-ending Abu Dhabi Grand Prix via a crowdfunding scheme.
While Formula 1 supremo Bernie Ecclestone has talked up Marussia's chances of securing a late rescue deal, he doubts Caterham's ability to stage a full-scale comeback.
But Finbarr O'Connell, of administrators Smith & Williamson, has vowed to keep pushing for an agreement until he is forced to look at the alternatives.
"I am still hopeful," O'Connell explained to news agency Reuters.
"As long as there are people there who have got a real possibility of doing something, I'm not going to close it [the team] down.
"If I do, then I will just be organising an auction as regards the assets – which I can do at any stage anyway."
By finishing ninth in last year's championship standings, Marussia would be entitled to significantly more prize money and revenues than Caterham.
O'Connell thus admits that the team is "a much more difficult sell", and says he is running out of time to find a suitable buyer.
"I've had people visiting the site. Some people are trying to find a way to make it work for them. We will do anything we can to make it happen, but it's really in the hands of the prospective purchasers," he said.
"I'm very conscious that a time will come when it will not make sense for anybody to invest large sums of money in racing the Caterham team for the 2015 season. Time will just run out.
"I'm not going to stifle any interest, but time is definitely running out."