Caterham F1 team 2014

[Belatti]

A person who feels he got screwed in a business transaction is generally the same fellow who thought he was screwing the other parties to the transaction at the time the deal went down.

That

[rohit1594]

Shouldn't Haas have bought the Caterham team instead of starting from scratch? Of course, he would've still taken a break in 2015 to give himself more time for establishing a sound partnership with Ferrari; but he would have at least retained the current staff & facilities.

[turbof1]

Shouldn't Haas have bought the Caterham team instead of starting from scratch? Of course, he would've still taken a break in 2015 to give himself more time for establishing a sound partnership with Ferrari; but he would have at least retained the current staff & facilities.

No because he would have bought the debt along with the team. Haas has quite a lot of infrastructure already, and financially are sound.

In hindsight, it makes even less sence since Tony Fernandes apperently had hidden a big chunk of the debts. I'd go as far as saying the costs for extra infrastructure would be less then the debt Haas would have to bare.

[Pierce89]

.http://www.dailymail.co.uk/sport/formu ... inues.html

Funny stuff happening at Cater am. The Fernandes group has accused the new group of appointing a factory cleaner as director.

Edit: if I was the new investment group, I would walk away then sue Fernandes, as he surely hid a lot of the debt during the deal.

[NathanOlder]

Caterham have been allowed to miss the next 2 races to be able to try and find a new buyer.

http://www.autosport.com/news/report.php/id/116487?

[Pierce89]

Caterham have been allowed to miss the next 2 races to be able to try and find a new buyer.

http://www.autosport.com/news/report.php/id/116487?

The article also mentions the possibility of the administration firm taking a shareholding. More rich men lured in by the glitz and glamour and hot loose women?

[Richard]

The article also mentions the possibility of the administration firm taking a shareholding.

I can't see anything about that in the article.

[McMrocks]

I think it is obvious that Caterham has gone on the rocks. There will be no investor (ok, well there are many rich maniacs in the world so who knows?)

[Tim.Wright]

One thing's for sure... 3-4 weeks isn't enough time to sell a team and get them back on the road. Selling any business is a process of months, not weeks - and this is pretty well back up with historical data when it concerns F1 teams.

I think this concession to miss a couple of races is just Bernie pretending to help. He knows full well nothing significant can be achieved in this tiny amount of time.

[ringo]

Kamui knew something was up when they asked him to retire the car..
Overheating brakes my foot!

[Gaz.]

Caterham have been allowed to miss the next 2 races to be able to try and find a new buyer.

http://www.autosport.com/news/report.php/id/116487?

The article also mentions the possibility of the administration firm taking a shareholding. More rich men lured in by the glitz and glamour and hot loose women?

Is it not so they can claim any monies owed from the prize funds if they complete the season?

[TzeiTzei]

Caterham have been allowed to miss the next 2 races to be able to try and find a new buyer.

http://www.autosport.com/news/report.php/id/116487?

The article also mentions the possibility of the administration firm taking a shareholding. More rich men lured in by the glitz and glamour and hot loose women?

Is it not so they can claim any monies owed from the prize funds if they complete the season?

What money? Unless they get 10th place in wcc they wont be paid anything.

[Manoah2u]

A shame though because imho the Caterham since the nose-update is the most beautifull car of the entire field, and i really enjoy seeing a green car in the field, just as much as i'm missing a yellow car in the field.

I do wonder though really what's going on there. I don't think Tony is without blame, but, i feel like there is too much arrows pointed at Tony. The matter of fact, it's like the Caterham team essentially is a totally different outfit compared to the 1malaysia outfit called Lotus at the beginning of their 'run'.

Without doubt there is a lot of gritty stuff going on in the background, just as it was with HRT.

Still, both catheram, marussia and sauber seem to be in the same situation; despite sauber no being in immediate danger of missing out on a GP. I reckon lotus' troubles aren't over, either - though i am surprised they still are able to get their hands on mercedes' powerplants, remembering the financial struggle they atleast supposedly are into since at least last year.

What does makes me 'stressed' about the issue with sauber, marussia and caterham and perhaps lotus, especially after the HRT fumble, is the real future of F1, in mind the new team HAAS and perhaps Forza Rossa to enter. Perhaps the death penalty for Marussia and Caterham was the change of engine from v8 to v6T, and all the development paired.

I do wonder what would have happened to Caterham should they've had a Mercedes engine in the back. would it have been enough to catapult them into the back of the midfield on pure power benefit alone?
The renault was huge stepback and the ferrari powerplant had certain issues, too.

So what is going to happen for coming year?

What needs to happen for Caterham to be in the 2015 season?

Have they developed a 2015 contender? Can they use the current 2014 vehicle?
What payments need to be fullfilled for them to be 'released' ?
and, what the heck is really going on behind the scenes?

there was the issue of angry personel a couple of months ago, there have been various shifts in leadership,
and i understand the huge debt must be part of it, but what is causing the fact these debt issues somehow
seem irresolvable, and that essentially a freakin' bloodsucker of a collection agency is the self-appointed "team boss".

That can't be real?

If i'd have a multi-million dollar furniture organisation, and i'd have a couple of 100.000's dollars in debt to suppliers
and investors, which i refuse or can't pay - then i might be able to imagine they take a 'hold' of stock,
but it is impossible that a freakin' collection agency suddenly self-appoints themselves as 'owner' of the multi-million dollar furniture business, where they have invested zero time, zero effort and are just there to make sure the debts are paid to the companies that they are in debt to.

i read Tony essentially is still 'Team Leader'. how the heck can a bloodsucking collector become 'team leader'???
I say it can't and i call BS on this entire thing, but i'm as confused as you are probably.

anybody some idea how the heck this can happen?

[lillschumi]

Wonder if Ericsson financial backers have been screwed (if they paid the money when contract was signed) or if he still have that money for 2015. I would like to see him in a Sauber or Lotus.

[Richard]

Lets clear up some misconceptions about going into 'administration', its similar to 'Chapter 11' proceedings in the USA.

The administrator is appointed when a company is in danger of bankruptcy. They are not self appointed, they are appointed by the company itself (as a defence) or its suppliers asking a court to impose an administrator (to force the company to resolve the problem). In this case a supplier (Export-Import Bank of Malaysia Berhad) has forced the company into administration because of an outstanding debt.

The administrator takes over the running of the company in place of the owners. The administrator's job is to keep the company running and find a buyer, or if that doesn't work they sell the assets to raise cash to settle as much of the debt as possible.

In this case the administrator has said they intend to keep the company running until they find someone to buy Caterham. The comment about being the TP is because the administrator is running the company, just like a TP or CEO. This does not mean they are buying the company, simply that they are in the hot seat until new funding is found.