Caterham assets to be sold in auction

The remaining assets of the collapsed Caterham team will be put up for sale in several auctions if no buyer for the team can be found in the next coming weeks.

A statement released by auctioneers Wyles Hardy & Co states the company was instructed to sell all hardware that remains of the team.

"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."

Having gone into administration last October, O'Connell has since had discussions with two parties over a possible sale of the team. Speaking to BBC Radio, he also did not rule out an eventual sale to rescue the team after all.

"The team is still for sale," he told BBC Radio Oxford. "I've had meetings with two parties today. They're not advanced enough for my liking. But the next person believes they're going to convince me they've got the wherewithal to buy the team."

If all else fails, the first Auction will kick off on March 11, focusing on the race support and pit lane equipment including the 2014 chassis’ and show cars. 5 further auctions will then sell off engineering plant & machinery, inspection machinery, testing equipment, memorability, team clothing, show cars, it infrastructure and eventually office furniture.

Further details of the sale items and terms of sale etc will be found at www.wyleshardy.com/caterhamf1/