Ericsson terminates Caterham F1 contract

Swedish Formula One driver Marcus Ericsson has announced that he has ended his agreement with Caterham F1, ruling out driving for the team at Abu Dhabi.

Caterham are in administration since several weeks and have resorted to crowfunding in an attempt to return to the Formula One grid at Abu Dhabi. Following the absence of the team at the US and Brazilian Grand Prix, Ericsson has decided to end his deal, opting not to drive at Abu Dhabi, even if Caterham would succeed in gathering enough funding.

"This is a sad day as we have greatly enjoyed working with the team through a difficult and tough season," he said.

"I have decided to terminate, with immediate effect, all agreements connecting me to the Caterham F1 team. I wish to thank the Caterham F1 team for your trust and confidence in me, and for making my first Formula 1 season an educational and unforgettable experience.

"In addition, I thank my good friend and team-mate Kamui Kobayashi for being an inspiring benchmark throughout the year, and hope to see him back on the track soon."

Marcus Ericsson is currently in his first year in Formula One and has a contract in place to race with Sauber F1 Team in 2015.