The Caterham F1 Team is trying to relaunch using crowd funding. Anyone willing to invest can go to www.crowdcube.com/caterham and pledge money. The administrator Finbarr O’Connell says that supporters will receive unique rewards, including a once in a lifetime opportunity to get your name on the Caterham F1 car competing in the Abu Dhabi Grand Prix. The opportunity to support Caterham F1’s return to the grid will close when it reaches its £2.350m funding target or on Friday 14 November, whichever is sooner.
“We are working non-stop to get the Caterham F1 Team back racing, initially in Abu Dhabi, but hopefully that will be just a stepping stone to get it back racing on a permanent basis, under new ownership,” said O’Connell. “In order to achieve that one of our most useful, innovative and effective options right now is crowdfunding. We want to get as many sponsors and fans as possible involved this week and make our comeback something we can all be part of. This team deserves a future and I’m sure that there are plenty of fans and companies out there that agree with us.”
Unless there are some pretty big donations coming in (perhaps from those who want to keep the team alive) it is highly unlikely that this is going to succeed. Fans can pledge from £1 and the scheme has already raised £105,000. Having said that this is only 4 percent of what is required.