News Details
Caterham crowd funding scheme set to fail
End of the road for Caterham?
Friday's deadline looks set to come and go without Caterham raising the $3.7 million it needs to survive in Formula 1 through crowd funding.
The team, in administration and fighting to keep its official entry alive by making the Abu Dhabi grid, has raised only just over $2 million within hours of its self-imposed deadline expiring.
Gerard Lopez, who as owner of Lotus is frustrated that Formula 1's income model and high costs are threatening the survival of small teams, said it is 'sad' Caterham even had to revert to the controversial use of fans' hard-earned money.
'Formula 1, which is a $1.6 billion business, and distributes over $900 million, and we're being...
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11y ago from GrandPrix247.com
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