New Caterham owners give go ahead for development push

New Caterham owners give go ahead for development push

Caterham’s new owners have given their approval to funding a major development package in hopes of claiming 10th in the constructors’ championship.

The team, which last week was sold to a consortium of Swiss and Middle Eastern investors by former-owner Tony Fernandes, currently lies 11th in the constructors’ championship, and is in danger of losing up to £20 million pounds of crucial prize money if it cannot improve on its position before the end of the season.

With this in mind, the new owners have given the go ahead for a major development package that is expected to bear fruit in time for the Belgian Grand Prix, in the hope of overturning Caterham’s current deficit to rivals Marussia and Sauber.

Speaking to AUTOSPORT, the team’s new boss Chritijan Albers said: “I want some upgrades, yes, and as soon as possible. It won’t be easy because they always cost a lot of money, but we are working on it now.”

“I think you need to be realistic, you need to work first on a healthy situation where everybody can survive, and from there on push also,” he added. “We have to push. For me the priority is to get as many upgrades as possible at a reasonable cost.”

Image courtesy of Octane Photographic

Dan Paddock

Dan Paddock

Dan Paddock is an FIA accredited freelance motorsport and Formula 1 journalist and the recently appointed Grand Prix Editor of Richland F1. Dan joined the site in July of last year as a Staff Writer, fresh off the back of completing a master’s degree in journalism. He has since gone on to represent Richland F1 at the 2014 British Grand Prix, his debut in the Formula 1 paddock. Aside from Richland F1, Dan also writes for Rumble Strip News, as well as maintaing his own modest blog.