F1: Caterham administrators still pushing for team’s sale

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Caterham administrator Finbarr O’Connell said on Thursday that he was “still hopeful” about the prospect of a sale involving the beleaguered Formula One franchise.

With the start of the 2015 World Championship now less than two months away, time’s running out to get Caterham on the grid.

However, O’Connell told Reuters that he’s not ready to give up in his pursuit of a buyer for the team.

“As long as there are people [out] there who have got a real possibility of doing something, I’m not going to close [the team] down,” he said. “Because if I do, then I will just be organizing an auction as regards the assets – which I can do at any stage anyway.”

Still, he knows the clock is ticking and the possibility exists that all of his efforts may ultimately go for naught.

“I’ve had people visiting the site,” O’Connell added. ‘Some people are trying to find a way to make it work for them. We will do anything we can to make it happen, but it’s really in the hands of the prospective purchasers.

“I’m very conscious that a time will come when it will not make sense for anybody to invest large sums of money in racing the Caterham team for the 2015 season. Time will just run out.”

Caterham and Marussia both went into administration last fall and missed multiple races, although Caterham made the season-ending Abu Dhabi Grand Prix on the strength of a successful crowd-funding campaign.

But as of now, the chances of a return to the grid appear to have gotten better for Marussia.

A scheduled auction of its race cars, spares, and pit equipment was cancelled earlier this week, so the team could engage in talks with a potential new investor. Marussia boss John Booth himself expressed confidence that a deal could be struck.

Booth’s bunch claimed ninth place in the 2014 Constructor’s Championship despite missing the final three events of the 2014 season. That result sets Marussia up for a sizable amount of prize money – but only if an investor can be found.