Radio Sandwell Sport

F1: Troubled Caterham ask fans to donate 2.35m in a week

2014-11-07 18:06:53

Caterham

Troubled F1 team Caterham are asking fans to donate money to help them compete at the final race in Abu Dhabi.

Caterham were given dispensation to miss last week's US Grand Prix and this weekend's Brazilian GP after going into administration.

They are aiming to raise £2.35m using crowdfunding by Friday, 14 November.

Administrator Finbarr O'Connell said: "We are confident the team showing the world that it can race again will lead to a bright future."

O'Connell, interim Caterham team principal, added: "We are working non-stop to get the team back racing, initially in Abu Dhabi.

"But hopefully that will be just a stepping stone to get it back racing on a permanent basis, under new ownership."

Crowdfunding is a way of asking people to invest money in businesses or projects. More than nine million investments and donations were made last year.

Caterham's initiative came just hours after the Marussia Formula 1 team announced it had ceased trading and that all staff would be made redundant.

Source: bbc.co.uk

Share this story

Related Stories

Sport around the web

Olmedo wins French 2000

Pundits pick England Test squad

Southampton v Man City LIVE!

Man Utd v Watford LIVE!

50 great World Cup moments: Nelinho's sublime strike for Brazil against Italy - 1978

Euro Papers: €15m more for Griezmann

Is Hamilton's pole a decisive shift at front in F1? All you need to know about Spanish GP

Walsh eyes French return

Chennai v Sunrisers scorecard/commentary

Donoghue pleased as goal drought ends

Image Slider