Will Caterham be at the US GP?

[Monty]

It seems that the administrator dealing with Caterham Sports is claiming that the Caterham F1 assets can be seized.
In my experience I doubt their claim will hold up in court but they may be able to stop the cars leaving the factory in time to make it to the track.
From a F1 enthusiasts point of view I really want to see Caterham survive but it seems Fernades was moving money around the various 'Caterham' business entities but it was all leaking out of the F1 team.

[Wizzo]

In case you're wondering, Caterham Cars (part of the Caterham Group) and Caterham F1 are not connected financially.

The Caterham Group now consists of Caterham Cars, Caterham Technology & Innovation and Caterham Composites.

Here is an interesting article.

http://skiddmark.com/2014/10/decimate-brand-case-study-caterham/

[Monty]

Wiz, this article sums things up perfectly.
Caterham Cars is a great business successfully making giant-killer sports cars here in the UK.
I own a TVR and most of us TVR owners have owned a Caterham at some stage of our (generally younger) lives. Only a high powered motorbike can give similar thrills to a Caterham.
Fernandes has caused Caterham to have serious financial problems for the first time in many years and most of this is directly due to the damage the F1 team has caused to the 'brand'.

[Wizzo]

While the Caterham F1 Team never reached its full potential, the other arms of Caterham Group have continued to develop and flourish.

The order book for Caterham Cars is full until May 2015, with the Company having to ramp up production to satisfy increasing and unprecedented global demand for the Seven.

Monty you never actually stated whether you owned a Caterham? I have just placed an order for one next year (hopefully May). If you have owned one I would be interested in hearing your views on your experience.

Wiz

[Scott]

I made a joke about not having to build them anymore in chat, but I guess some models still come in boxes and need 60-70hrs to build them up.  Is yours a builder version?

[Wizzo]

Caterham first started sending out kits in the 50's because then there was no tax on car parts. So, if you had the time and notion you could build yourself a tax free car! The idea of building your own car proved so unique and popular that all Caterhams are still available as a pile of components that you can assemble yourself, and many many people still do.

When you think about it ALL cars are a pile of components simply put together in the factory. Caterham give you the choice, either they do it for you for £3,000 or you can do it yourself, save yourself some money and be able to boast that you built your own car.

Mine? I neither have the time or the notion to assemble a car. I'll have mine built by the experts thank you. 



Wiz

[John S]

It's alleged by some that the new owners of the F1 team have forced Caterham Sports Ltd into administration by failure to make payments to them under the licence agreement. Without the funds coming in the actual F1 car building part - CSL - can't pay suppliers or indeed it's own staff.

I believe the Leafield operation was split into 2 parts when Tony Fernandes sold the team, one part taking over the actual track team and it's F1 entry, the other the F1 manufacturing side. It's not clear whether both parts were bought by the new team owners or if Tony retained the manufacturing side.

Leafield just seems cursed as far as F1 teams are concerned, too many have gone bust there.

       

[Monty]

Wiz, I have had two bites of the Caterham cherry. Back in the 90's I had a Seven with the 1700 crossflow engine running twin DCOE webbers. It really wasn't that fast but it felt quick and the induction noise made it a joy to accelerate hard everywhere.
More recently I shared a Caterham Supersport with a friend and we upgraded it to Supersport Championship spec. which is the last proper racing that I did. That really was quick. 140bhp and 750kgs; LSD, CR gearbox, etc.
They are great fun but in both cases I never invested in wet weather gear so in the UK they are not high on practicality! They are noisey, you get flies and grit in your eyes and mouth, you have to be double jointed to get in and out, you have to be very friendly with your passenger, expect to spin it at least once (if you don't you aren't trying hard enough), after about 100miles the vibration and bumps start to make your man parts numb, after 150miles you wish your man parts had gone completely numb. I thoroughly recommend them.
Then when you want more power, more comfort but the same thrills you buy a TVR (350bhp, 1100kgs but with a screen and a roof!).

[Wizzo]

Thanks Monty, interesting stuff.

I have always wanted a Caterham since I was a lad and finally hired one for the day a few weeks ago. I had 6 hours in a 140bhp Roadsport and enjoyed every second of it even though it was a cold rainy day! I loved it so much that I went back two days later and test drove the Supersport R and of course immediately put a deposit down for a build next May.

The Supersport R has the 2 litre 180bhp Ford Duratec engine which can be upgraded in power if I wish  . The car itself weighs in at 535kg so has a similar power to weight as your TVR (I've always wanted one of those too!). I have opted for the windscreen/weather gear as I intend to use it on some longer journeys. After 6 hours in one I know they can be tiresome but I never stopped smiling the whole day.

All I need to do now is convince Mrs Wiz to have a go in it and I must must remember not to accelerate and rip her face off if she ever does try it. 

Wiz

[Wizzo]

Update: Its not looking good.

http://www.bbc.co.uk/news/uk-england-oxfordshire-29738116

[Scott]

Note to 'administrators' of the world...an F1 team is not the same animal as a widget company.  To keep value for the shareholders or creditors, the worst thing you can do is shut the doors and break myriads of contracts.  This can only bleed value from the team.  Especially with 3 races remaining on the calendar, keep things running through the end of the season, re-group, sell team, reap millions.  Close it down now?  Lose everything, get nothing.

[Irisado]

http://www.bbc.co.uk/sport/0/formula1/29737238

The kiss of death.  Ecclestone enters the fray.  Things are looking very bleak now.

I can't see them being on the grid of the rest of the season, unless a deal can be sorted out very quickly.

[Scott]

Claims, and counter claims...

Blame Fernandez:
http://m.autosport.com/news/report.php/id/116467/fernandes-blames-caterham-buyer

A short, and very suspicious statement from Engavest (buyers):
http://www.pitpass.com/52777/Statement-on-behalf-of-Engavest-SA

And finally, an explanation from Fernandez.  Simply because it seems to be the most clear statement, I'm inclined to believe Fernandez, though it looks bleak from here.  If Fernandez is so concerned about the employees, he should back it up and bank the company through the end of season. 
http://m.autosport.com/news/report.php/id/116467/fernandes-blames-caterham-buyer

[cosworth151]

Looks like Caterham F1 is done for. Bernie says F1 will be better off without them. Odd thing, Bernie, is that most of us feel that way about you.

http://autoweek.com/article/formula-one/bernie-ecclestone-says-caterham-collapse-better-f1

[Scott]

Odd thing, Bernie, is that most of us feel that way about you.