The current owners of Caterham “have been unable to fund” a company associated with the F1 team, according to administrators. It emerged that Caterham Sports Limited (CSL) had been placed in to administration on Monday, with the company building cars for the F1 team which is operated by 1 Malaysia Racing Team (1MRT). Finbarr O'Connell, restructuring and recovery partner at administrator Smith & Williamson, said uncertainty over who actually owns the team was clouding matters. “Clearly, the parties who bought the business from Tony Fernandes have been unable to fund this company,” O'Connell told the Financial Times. “When it comes to F1 teams, you are normally dealing with one...
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