Photo: Caterham F1 Team
Hemel Hempstead-based Wyles Hardy & Co. asset valuer and auctioneer is gearing up to sell mostly everything the Caterham F1 Team owns. Starting with an auction event slated for March 11th and finalizing with another one on May 13th, Wyles Hardy has a big list of Caterham F1 Team-related goods to sell.
But first, what the hell happened to those plucky Brits? After Lotus Racing went belly up, the Formula One outfit was bought by Caterham and started racing in 2012, with the Caterham CT01 racecar. Since the 2012 Australian Grand Prix and up to the 2014 Abu Dhabi Grand Prix, the Brits competed in 56 Grand Prix events but haven't scored anything: no fastest laps, no poles, no podium finishes, no wins, no constructors' or drivers' championship points, absolutely nothing.
Funding a losing team is bad business. It's no wonder why Caterham F1 was sold by Tony Fernandes in July 2014 to a consortium of Swiss and Middle Eastern investors. Heck, the Leafield-based outfit's social media accounts haven't been active since November 2014, which is another tell-tale sign things are getting seriously bad in terms of cashflow and capital.
It's still a mystery whether Caterham F1 will compete in the 2015 Formula One season, but one thing is certain: Wyles Hardy & Co. is the company that will offer at auction "race & pit lane equipment, 2014 chassis and show cars, F1 memorabilla, engineering plant and machinery, works equipment, IT, office furniture & equipment," everything. Although there's no fat lady singing, we're smelling a bankrupt Caterham F1 Team.
Wyles Hardy & Co.'s website also list these items: race and hospitality trailers, autoclaves, the team's simulator and even a super computer. But the fact of the matter is this: when a Formula One team liquidates even its office chairs, televisions, gym equipment and other trivial stuff in the same vein, it's no mystery something went extremely wrong with the accountants and managers. For a more comprehensive view on what Catherham F1 Team assets are heading to auction, click on the release button below.
Funding a losing team is bad business. It's no wonder why Caterham F1 was sold by Tony Fernandes in July 2014 to a consortium of Swiss and Middle Eastern investors. Heck, the Leafield-based outfit's social media accounts haven't been active since November 2014, which is another tell-tale sign things are getting seriously bad in terms of cashflow and capital.
It's still a mystery whether Caterham F1 will compete in the 2015 Formula One season, but one thing is certain: Wyles Hardy & Co. is the company that will offer at auction "race & pit lane equipment, 2014 chassis and show cars, F1 memorabilla, engineering plant and machinery, works equipment, IT, office furniture & equipment," everything. Although there's no fat lady singing, we're smelling a bankrupt Caterham F1 Team.
Wyles Hardy & Co.'s website also list these items: race and hospitality trailers, autoclaves, the team's simulator and even a super computer. But the fact of the matter is this: when a Formula One team liquidates even its office chairs, televisions, gym equipment and other trivial stuff in the same vein, it's no mystery something went extremely wrong with the accountants and managers. For a more comprehensive view on what Catherham F1 Team assets are heading to auction, click on the release button below.
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