By Daniel Wilson
It has been announced in the last 24 hours that Caterham’s F1 manufacturer, Caterham Sports Limited, has gone into administration, raising concerns over the future of the team in Formula One.
The company, which is operated by 1 Malaysia Racing Team (1MRT), is unlikely to be able to continue supplying the team’s engines and other essential components, leaving the Oxfordshire team under pressure to find the money to support a new manufacturer before next season.
It’s been a very difficult and long season for Caterham. They currently sit bottom of the constructors championship without scoring a single point in 2014 – Sauber the other team yet to score too.
The company currently sits more than £20m in debt, and the jobs of over 200 people are at risk.
The team have faced criticism from their drivers over recent weeks, notably from Kamui Kobayashi after he was forced to retire from the Russian Grand Prix two weeks ago without any reason. He has also said he feared for his own safety at Sochi following the severe injuries Jules Bianchi sustained in Suzuka the week before.
Personally, I feel the future of the team is bleak. The presence of the bailiffs at their base in Britain coupled with their failure to score a single point since the brand entered the sport in 2012 means it is unlikely they will be able to fund their position in the sport any longer.
Furthermore, we have heard from Bernie Ecclestone that there could be the introduction of a new American team in 2015, so that competition could force Caterham’s hand and seal their exit.
However, one question that could be raised here is that if Caterham and other struggling teams begin to talk about an exit from F1, could Bernie’s proposal of three-car teams become a reality by 2016? I really hope not.
So, as the final three races approach, will we see the final curtain on Caterham’s F1 life?
What do you think Caterham should do?
What has gone so wrong for them since 2012?
Leave your thoughts and comments below!