F1 boss Bernie Ecclestone happy to help out Caterham

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  • Charity begins at home: F1 supremo Bernie Ecclestone

    Formula One supremo Bernie Ecclestone has played his part in helping Caterham onto the grid for the Abu Dhabi Grand Prix.

    – #Quiz360: Thursday's teasers – WIN dinner for 2 at Channels, Media Rotana Dubai

    The cash-strapped Leafield-based marque were placed in administration last month and appeared on their way out of For­mula One, following on the heels of Marussia.

    In a last-ditch bid to save the team, London -based accountancy firm Smith Williamson, oversee­ing the administration process, launched a crowdfunding project.

    A target was set of £2.35 million (Dh13.5m) to get the cars to Abu Dhabi, and with it affording them more time to hopefully find a buyer to take the team into next season and beyond.

    In hitting £1.8m (Dh10.4m) on Friday of last week, joint ad­ministrator Finbarr O’Connell announced enough money had been raised to confirm the team would be heading to the Yas Marina circuit.

    The crowdfunding clock has also been reset to midnight Sunday after the race, with the belief the additional revenues needed will roll in over the next few days.

    After initially criticising the crowdfunding scheme, Ecclestone has now chipped in himself by waiving all freight costs and laying on a chartered plane for the staff who will be in attendance.

    Ecclestone said: “They wanted to go, so we’ve transported them at no cost to them.

    “We’ve at least helped them to some degree, something we need not have done. We’ve even char­tered another plane to take them.

    “We’ve gone a little bit over the top, but anyway, we’ve done it.”

    Ecclestone, however, is unsure whether O’Connell’s discussions with a number of interested par­ties looking at buying the team will result in them being saved.

    As to whether Caterham will be in F1 next season, Ecclestone add­ed: “We will have to wait and see.

    “It’s all a bit mad at the moment, and what is happening doesn’t do a lot of good for Formula One.” 

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