Caterham to race in Abu Dhabi after crowdfunding
Caterham to race in Abu Dhabi after crowdfunding
Caterham administrator Finbarr O'Connell said Friday that the team had raised enough money through a crowdfunding program to race in Abu Dhabi.

Formula One team Caterham will compete in the season-ending Abu Dhabi Grand Prix next week after a successful crowdfunding campaign.

Caterham, who have been taken over by insolvency specialists while they seek a new buyer, have missed the last two races in the United States and Brazil.

Caterham administrator Finbarr O'Connell said Friday that the team had raised enough money through a crowdfunding program to race in Abu Dhabi.

The initiative has raised 1.87 million pounds ($2.92 million) so far and the final target is to raise 2.35 million pounds ($3.7 million).

"In only a week the fans have made the impossible, possible," O'Connell said. "We knew that the best way to keep this team alive and attract possible buyers was to show that it's still a racing team and be in Abu Dhabi for the finale. "

O'Connell added that "we still need to raise a bit more cash."

Caterham were absent from the last two races along with fellow F1 team Marussia, who were shut down by their London-based administrator last week after no long-term solution to their financial difficulties was found.

While Caterham will return to the grid for the last race in 2014, they will be without Swedish driver Marcus Ericsson in Abu Dhabi. He left the team Wednesday ahead of a move to Sauber.

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