With Caterham and Marussia in the throes of failure, the governing FIA has admitted it is concerned about the financial situation in F1.
Tag Archive: Caterham
Romain Grosjean has revealed an exit clause will allow him to walk away from Lotus at the end of the season.
F1 is heading awkwardly into the US grand prix weekend, following the collapse of the two backmarkers Caterham and Marussia.
The sport has always had a dubious relationship with America, although Austin’s inaugural races in 2012 and last year were proclaimed definite successes, featuring big crowds and the exciting Circuit of the Americas layout.
With Caterham now in administration, the backmarker’s former management may be returning its focus to the Forza Rossa project.
Before the mysterious investment group bought Caterham from Tony Fernandes earlier this year, Colin Kolles was deeply involved in trying to get a Romanian project called ‘Forza Rossa’ up and running with FIA approval.
Organisers of the US grand prix say world champion Sebastian Vettel’s absence from qualifying this weekend is “unfortunate”.
As F1’s two backmarker teams collapse, 2016 newcomer Haas’ plans continue to take shape.
The teams that were ultimately known as Caterham, Marussia and HRT are all now gone, but Nascar team co-owner Gene Haas is determined not to make the same mistakes as his North Carolina based Haas F1 Team takes its next bold steps.
Marcus Ericsson’s manager says he is in talks with three alternative teams after Caterham ran off track.
With the Leafield based team in administration and set to miss the forthcoming Austin-Brazil double header, Swedish rookie Ericsson’s teammate Kamui Kobayashi admitted he is not sure the green team will be back in action for the Abu Dhabi finale next month.
F1 risks sliding into crisis and having to reinvent its very DNA as struggling backmarker teams begin to succumb to collapse.
HRT folded in 2012, and now F1’s two other newest teams Caterham and Marussia are in the throes of financial administration. Organisers of next weekend’s US grand prix look set to welcome just 9 teams to an 18-car grid, unprecedented since BAR-Honda was banned for a time almost a decade ago.
Marussia is not commenting on claims it will sit out the next races and is on the verge of being put into the hands of administrators.
Amid Caterham’s well-documented troubles, Bernie Ecclestone revealed that Marussia will also sit out the Austin-Brazil double header. And F1 business journalist Christian Sylt claims the team has notified the High Court that it also intends to go into administration.
Marussia looks set to join Caterham in entering administration, the Daily Mail reports on Sunday.
After Bernie Ecclestone said he will allow the struggling backmarkers to sit out the next Austin-Brazil double header, F1 business journalist Christian Sylt now reveals Marussia’s operating company has “filed a notice with the High Court saying that it intends to appoint an administrator”.
The clock is ticking down to struggling F1 backmarker Caterham’s apparent collapse.
With the Saturday freight deadline for sending cars and equipment to Austin now just hours away, staff remain locked out of the Leafield factory while an unseemly spat continues to escalate between the team’s former and current owners.