Caterham’s final assets to be auctioned off

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Caterham’s administrators have put the team’s final assets – including its 2014 cars – up for auction, all but ending hopes of a return to the Formula 1 grid in 2015.

The Leafield-based squad collapsed into administration ahead of last year’s United States Grand Prix, and missed two races before returning for the season-finale thanks to a crowd-funding effort.

Caterham’s administrators hoped that its appearance in Abu Dhabi would secure fresh investment for 2015, but this appears to have failed, with auctioneers Wyles and Hardy Co. confirming on Thursday that it will oversee the sale of the team’s final assets.

“Acting for the Joint Administrators Finbarr O’Connell, Henry Shinners and Anthony Spicer of Smith & Williamson, Wyles Hardy & Co have been instructed to realise the assets of the Caterham F1 race team,” a statement reads.

“A series of online timed auction sales will be held covering the race equipment, engineering facility, F1 memorabilia, IT and communications, office furniture and  as well as private treaty sales for the Race Trailer Fleet, the state of the art Race Simulator, Dell HPC super computer and Autoclaves.

“The first Auction will focus on the race support and pit lane equipment including the 2014 chassis’ and show cars and is scheduled for early March.”

Caterham finished 11th and last in the 2014 constructors’ championship with no points.

This article first appeared on Richland F1 – Image courtesy of Caterham F1 Team

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