Caterham F1 team announces it will race in Abu Dhabi Grand Prix

The Caterham Formula 1 team will race in the Abu Dhabi Grand Prix thanks to its crowdfunding scheme, the squad has announced

Caterham F1 team announces it will race in Abu Dhabi Grand Prix

Administrator Finbarr O'Connell had said earlier on Friday that he was "90 per cent confident" the team would be competing in the season finale.

Just moments after that, the team declared in a statement it will return to racing at Yas Marina thanks to the support from the fans who had donated money to its crowdfunding campaign.

At the time of writing, the crowdfunding seeking to get £2,350,000 was at 79 per cent with less than 10 hours to go.

"We set ourselves a major challenge, but it's definitely been worth it," said O'Connell. "In only a week the fans have made the impossible, possible.

"We knew that the best way to keep this team alive and attract possible buyers was to show that it's still a racing team and be in Abu Dhabi for the finale, and there aren't enough words to say how grateful we are to all the fans that have made this possible.

"We now head to Abu Dhabi ready to show what a hard-working and positive group of people this is and to hopefully secure a future for the team."

Caterham went into administration at the end of last month and has missed the last two races in the United States and Brazil.

O'Connell believes racing in Abu Dhabi will help the team find a buyer that secures its future in F1.

"During the past few days the interest of many potential buyers has increased massively and by racing in Abu Dhabi the team will be showcasing itself as a live and functioning team that deserves to continue into 2015 and beyond," he added.

"It has hard-working people, team spirit and experience and now it only needs a secure financial future which I'm very hopeful we can achieve.

"Once again, I'd like to reiterate that we are racing in Abu Dhabi thanks to all the fans out there - an achievement that will go down in F1 history and one that we can all be very proud of."

Caterham is yet to announce who will drive the cars in Abu Dhabi, with Marcus Ericsson having severed ties with the team earlier this week.

Japanese driver Kamui Kobayashi is still under contract with the team, though he was non-committal over his situation in a statement released prior to the US GP.

"While I am carefully observing the situation, I will evaluate possibilities and make best choice for my future," he said.

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