Caterham Formula 1 team's assets put up for sale by administrators

The assets of the Caterham Formula 1 team have been put up for sale by the company's administrator

Caterham Formula 1 team's assets put up for sale by administrators

Auction firm Wyles Hardy & Co will sell Caterham's 2014 F1 chassis and show cars, plus the team's factory, race and simulator equipment in a series of auctions through March and April.

Caterham went into administration following last year's Russian Grand Prix, amid a dispute between founder Tony Fernandes and the group of investors he had sold the team to in the summer.

Administrator Smith & Williamson had attempted to secure the team's future and revived it for the Abu Dhabi Grand Prix, where Kamui Kobayashi and British rookie Will Stevens raced for a hastily-reassembled squad led by administrators' representative Finbarr O'Connell.

The team also took part in the post-season Abu Dhabi test, with O'Connell remaining optimistic that a new buyer could be found to take Caterham into 2015.

While Thursday's announcement of the asset sale appears to signal the end for Caterham, its long-time tail-end rival Marussia's administrator said earlier this week that investment had been secured that could get the team back on the grid for 2015.

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