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Administrators take control at Caterham
Caterham's Leafield factory Caterham Enlarge The management of the Caterham F1 team has been handed over to administrators after those running the team decided to step back late on Thursday evening. The news follows a week of dispute over the ownership of the team, with Engavest - the company that attempted to buy the team from Tony Fernandes - saying it was no longer willing to run the outfit. Engavest claimed Fernandes had not transferred the shares of the team after the sale was agreed, while Fernandes accused Engavest of not meeting some of the conditions of the sale, including paying creditors. A brief team statement on Friday confirmed that administrators Smith & Williams are now in...
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