Caterham administrators positive ride buyers with big checkbooks will keep team on track

Caterham administrators Smith & Williamson say they remain hopeful that the team will be able to compete in Formula 1 next season.

Caterham entered administration following a dispute between Tony Fernandes and Engavest and missed two races, prior to returning in Abu Dhabi courtesy of a crowdfunding scheme.

Creditors voted in favor of the administrators' proposals during a meeting on Monday and there is now renewed hope that the team will be able to race in 2015.

"Our dialogue with prospective interested parties (read that ride-buyers) continues," joint administrator Henry Shinners told Sky Sports.

"We are grateful to creditors for their endorsement of our strategy and work. We remain hopeful that the Caterham Formula 1 team can be saved and be on the grid in Melbourne for the first race of 2015."

Leave a Reply