F1: Caterham to race in Abu Dhabi finale after fundraising success

Caterham’s administrator says the team will race at the season-ending Abu Dhabi Grand Prix following the success of a public crowd-funding project.

The team went into administration last month and had been seeking to raise £2.35m in order to return to action.

“We set ourselves a major challenge, but it’s been worth it. In only a week the fans have made the impossible possible,” Finbarr O’Connell said.

Caterham sat out the last two grands prix in the United States andBrazil.

Although the team is currently just under £500,000 short of its target, sponsors have come on board to make up the shortfall.

The crowd-funding initiative offered rewards to investors ranging from Caterham-branded earplugs and caps through to used race suits and carbon engine covers.

O’Connell, representing administrator Smith & Williamson, added: “We knew that the best way to keep this team alive and attract possible buyers was to show that it’s still a racing team and be in Abu Dhabi for the finale.

“There aren’t enough words to say how grateful we are to all the fans who have made this possible.

“We now head to Abu Dhabi ready to show what a hard-working and positive group of people this is and to hopefully secure a future for the team.”

Read more at BBC Sport