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Caterham assets up for auction

NEWS STORY
05/02/2015

As light appears at the end of the tunnel for Marussia, Caterham really does appear to have reached the end of the road.

A brief statement issued this afternoon reveals that the Leafield-based outfit's assets are being put up for auction under the instructions of its joint administrators.

It reads:

"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 series of on-line 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. Further details of the sale items and terms of sale etc will be found at wyleshardy.com.

Since last October, the team has suffered a roller-coaster ride of emotions, going into administration and then, courtesy of a crowd funding project, raising the necessary funding to appear in the season finale in Abu Dhabi.

However, talks with various "interested parties" have clearly proved unsuccessful, hence the decision to put the assets up for auction.

Yet at the same time, Marussia, which really did appear dead and buried, a number of its assets already sold at auction, might yet be saved, the British team to be taken out of administration later this month amidst talk of a rescue deal.

That said, it is understood that with a 40m prize pot up for grabs some of the bigger teams might yet bar its return in order to get a share of the money.

All's fair in love and war, they say, and make no mistake, F1 is war.

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1. Posted by Joop deBruin, 06/02/2015 2:43

"Caterham were lost over water, somewhere in SE Asia. The Black Box has not been recovered."

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