Caterham could be bought within a month

Formula 1 team Caterham could be back in business by Christmas, after they announced they are in talks with a potential buyer.

The minnows entered administration last month and missed races in both Austin and Brazil. They also made 230 staff redundant after their financial turmoil.

However, administrator Finbarr O’Connell said: “I am honestly talking to somebody who would like to take this over within the next month.

“They would like to take it over with the same people, the same team with the same infrastructure, and that would be a dream result for me.”

Andre Lotterer Caterham CT05 Renault

Caterham competed at the season-ending Abu Dhabi Grand Prix after raising £2.35 million through crowdfunding.

It was previously thought to be highly unlikely they would compete again. However, O’Connell is excited about the potential new owner.

“This is somebody who feels the same as me that if we don’t do something quickly then the team will drift away.

“If that works, and it is a credible person with credible backers, that will be the best solution.

“Talking to people with no Formula 1 involvement at all, who don’t k now what this is really about, adds that huge risk factor.

“But this is somebody who actually knows it, and who wants to do it. If it’s serious and it goes ahead then we’ll announce things as soon as we can.”

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