Leafield, Oxfordshire - Hopes of rescuing the failed Caterham Formula One team looked to be over on Thursday after auctioneers said they would sell off the assets, including 2014 cars and pit-lane equipment, in March.
They said a series of on-line timed auction sales, starting on 11 March and running through to May 14, would be held to sell off everything from race equipment to memorabilia and office furniture.
The race and hospitality trailers, race simulator, autoclaves and Dell HPC super computer would be offered as negotiated sales separate from the auctions.
Caterham, which never scored a point, went into administration in October 2014 and missed the US and Brazilian Grands Prix before raising money through a crowd-funding initiative to compete at the finale in Abu Dhabi in November.
As late as January administrator Finbarr O'Connell had held out hope of finding a buyer although he recognised time was running out with the season starting in Australia on 15 March.
NOT GONNA HAPPEN
The first pre-season test ended on Wednesday without Caterham's involvement.
O’Connell had said on 22 January: “As long as there are people out there who have got a real possibility of doing something, I'm not going to close the team down - because if I do, then I will just be organising an auction as regards the assets - which I can do at any stage anyway.”
Caterham was founded by Malaysian aviation entrepreneur Tony Fernandes, who also runs struggling Queens Park Rangers Premier League soccer club and retains the Caterham sports-car company, in 2010 as Lotus Racing.
Fernandes lost interest and exited in July 2014, handing over to a mystery group of Swiss and Middle Eastern investors with Colin Kolles serving as consultant.
Reuters