Caterham assets to be auctioned off
5 February 2015 – Caterham's administrators have put the assets of the squad up for auction, effectively ending its hopes of making the 2015 Formula 1 grid.
The team fell into administration after last year's Russian Grand Prix, and missed two races before returning at the Abu Dhabi finale via a crowdfunding scheme.
Finbarr O'Connell, of administrators Smith & Williamson, said a fortnight ago that he was "still hopeful" of finding a new buyer for the upcoming campaign.
But on Thursday, auctioneers Wyles Hardy & Co. confirmed that the Leafield-based team's assets are to be auctioned off during a series of sales in the coming months.
The first sale, which includes 2014 race cars and pit equipment, is scheduled to take place from March 11-12, just days before the season-opening Australian Grand Prix.
Five further sales are planned through May, and will include machinery, show cars, spare parts, factory equipment and office furniture.