Caterham reach half way with fan funding

Caterham’s controversial crowdfunding scheme is at the half way point as the team look to raise £2.35 million to race in Abu Dhabi.

The team are currently in administration and missed both of the last two races in USA and Brazil.

Last week the team launched a crowdfunding scheme in order to help them compete in the season ending race, by relying on donations from fans.

Administrator Finbarr O’Connell stressed that the money won’t be used to pay off the teams debts: “The plan isn’t to run F1 team by using crowdfunding. This funding is providing stepping stone to new financially sound future.”

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