Caterham's Administrators Will Not Fund Testing If Buyer For F1 Team Isn't Found

Caterham's administrators "will not fund the team to attend the first pre-season test if a buyer is not found in time," according to Lawrence Barretto of the BBC. Testing starts on Feb.1 at Jerez with the first race of the season taking place in Australia on March 15. Joint administrator Henry Shinners: "Talks with interested parties continue, but if a buyer is not found before the test, we will not put up the money to go. I wouldn't rule anything out but if we reach the first race in the same position, the chances of saving the team are virtually nil." In December, Shinners said that "they were in talks with three buyers." Those same buyers "remain interested, with talks planned for later this week, but a formal offer has yet to be made" (BBC, 1/5).