Jump to content


Photo
* * * - - 2 votes

Caterham F1 sold


  • Please log in to reply
708 replies to this topic

#701 Doughnut King

Doughnut King
  • Member

  • 520 posts
  • Joined: November 09

Posted 24 October 2014 - 23:23

I'll be surprised if Caterham ever races again.



Advertisement

#702 loki

loki
  • Member

  • 2,159 posts
  • Joined: May 02

Posted 24 October 2014 - 23:53

Looks like it's time to put a fork in 'em...

 

 



#703 pdac

pdac
  • Member

  • 1,226 posts
  • Joined: February 10

Posted 24 October 2014 - 23:53

So if the administrators have moved in and are now seeking to sell the team before the last race... where does that leave Engavest?

 

Engavest have been loudly proclaiming for the last few days that they have already paid to own the team.

 

Engavest SA has fulfilled all the conditions precedent, including paying the purchase price for the shares. The shares have not been transferred and therefore Mr Fernandes remains the owner of Caterham F1 and is fully responsible for all its activities.

 

The team is now in the hands of the administrator. Their job is to ensure that people who are owed money receive as much as possible. There is dispute over who owns the team right now, but if the administrator manages to sell the team, pay all creditors and their own fees and there is still money left over, then it will probably go to Fernandes as it sounds like he still holds the shares. However, Engavest would most likely take legal action. It's very hard to  imagine that there wold be any money left over. More likely, if the team is sold, the price will not be enough to cover very much of the debts and Fernandes and Engavest will have to fight amongst themselves using more of their own money.


Edited by pdac, 24 October 2014 - 23:54.


#704 Knot

Knot
  • Member

  • 463 posts
  • Joined: September 06

Posted 25 October 2014 - 00:02

I'll be surprised if Caterham ever races again.

 

0 points in almost 5 seasons makes me think they were never really racing at all.



#705 Petroltorque

Petroltorque
  • Member

  • 1,915 posts
  • Joined: March 10

Posted 25 October 2014 - 06:34

I thought only the top 10 get any prize money - that was at least the case a few years ago.

There is also a $10 million payment for column 3 if you finish outside the top 10. Ecclestone regards that as arbitrary. He tried to screw Marussia out of it last year.

#706 FredrikB

FredrikB
  • Member

  • 646 posts
  • Joined: May 00

Posted 25 October 2014 - 06:38

I'll be surprised if Caterham ever races again.

 

They will be in Abu Dhabi just to keep the license, and then what remains of the team will be sold.

We will not see Caterham on the grid next year.



#707 Wingcommander

Wingcommander
  • Member

  • 739 posts
  • Joined: August 09

Posted 25 October 2014 - 06:46

There is also a $10 million payment for column 3 if you finish outside the top 10. Ecclestone regards that as arbitrary. He tried to screw Marussia out of it last year.


I dont think it's there anymore.

#708 Donka

Donka
  • Member

  • 488 posts
  • Joined: February 10

Posted 25 October 2014 - 08:51

There is also a $10 million payment for column 3 if you finish outside the top 10. Ecclestone regards that as arbitrary. He tried to screw Marussia out of it last year.

After Tamara's wedding this year I think that "arbitrary" fund is tapped  :p



#709 Doughnut King

Doughnut King
  • Member

  • 520 posts
  • Joined: November 09

Posted 25 October 2014 - 11:34

They will be in Abu Dhabi just to keep the license, and then what remains of the team will be sold.

We will not see Caterham on the grid next year.

 

If they turn up in Abu Dhabi, they might just do the Arrows trick of qualifying outside the 107%.