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Caterham administrator hopeful of takeover

Caterham could yet have a future in Formula One. Credit: PA

Caterham administrator Finbarr O'Connell is hoping to deliver a happy Christmas present to the team's 230 staff recently made redundant.

O'Connell is currently in serious negotiations with a potential buyer who not only has the financial muscle required to compete in Formula One, but more importantly also has a background in the sport.

The 54-year-old Irishman believes a deal could be completed within the next three to four weeks in the run up to Christmas, allowing just enough time for the team to be on the grid for next season.

"I am honestly talking to somebody who would like to take this over within the next month," O'Connell told Press Association Sport.

"This is somebody who feels the same as me, that if we don't do something quickly then the team will drift away.

"This is a credible person with credible backers, somebody linked to Formula One, and I am delighted about that.

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