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The Formula 1 Commission has given Caterham F1 Team dispensation to used its current Renault-powered CT05 car in 2015 should a buyer be found for the team.
Caterham is currently in administration and the man in charge, Finbarr O'Connell, is working hard to find a buyer for the team.
Should a new owner be found in time, he will not have to design and build a new car for 2015.
The final approval to this decision has to be taken by the members of the World Motorsport Council this month.
"The F1 Commission and FIA agreed if it would assist the weaker teams they can use the 2014 car next year, so giving them more time and options,” administrator Finbarr O'Connell said.
"That is of interest to all the parties I'm talking to because it gives them a choice, an easier start to get into F1 if they chose that route. It helps."
The decision gives O'Connell more time to sell the team, having previously stated a deal before Christmas was crucial. However, it is no longer the case.
"The number of people I'm talking to has increased, with two very strong candidates, and a third less strong. All I can do is show what I have, show the team, the assets and the facilities, and facilitate in any way I can with them making a decision. I remain confident something will be done,” O'Connell declared.
Caterham is currently in administration and the man in charge, Finbarr O'Connell, is working hard to find a buyer for the team.
Should a new owner be found in time, he will not have to design and build a new car for 2015.
The final approval to this decision has to be taken by the members of the World Motorsport Council this month.
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| Caterham CT05 powered by Renault. (Photo: WRi2) |
"The F1 Commission and FIA agreed if it would assist the weaker teams they can use the 2014 car next year, so giving them more time and options,” administrator Finbarr O'Connell said.
"That is of interest to all the parties I'm talking to because it gives them a choice, an easier start to get into F1 if they chose that route. It helps."
The decision gives O'Connell more time to sell the team, having previously stated a deal before Christmas was crucial. However, it is no longer the case.
"The number of people I'm talking to has increased, with two very strong candidates, and a third less strong. All I can do is show what I have, show the team, the assets and the facilities, and facilitate in any way I can with them making a decision. I remain confident something will be done,” O'Connell declared.