• Caterham

Ericsson cuts ties with Caterham

ESPN Staff
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If Caterham is to complete its unlikely crowd-funding project to race in Abu Dhabi it will have to do so without Marcus Ericsson after the Swede severed his contract with the team.

Caterham entered administration before the United States Grand Prix but hopes to retain its racing licences, its most valuable asset, by racing in the season finale. It aims to raise £2.35m by November 16 and had reached 52% by Wednesday via donations, an initiative administrators said had attracted a potential buyer.

But on Wednesday Ericsson, who is already confirmed to drive for Sauber next season, announced he has severed ties with the team.

"Following recent events re Caterham Sports Limited and 1 MRT Sdn Bhd, my adviser Eje Elgh and I have decided to terminate, with immediate effect, all agreements connecting me to the Caterham F1 team," Ericsson said in a statement on his website. "This is a sad day as we have greatly enjoyed working with the team through a difficult and tough season.

"I wish to thank Colin Kolles, Manfredi Ravetto, Cyril Abiteboul and every other member of the Caterham F1 team for your trust and confidence in me, and for making my first Formula One season an educational and unforgettable experience. In addition, I thank my good friend and teammate Kamui Kobayashi for being an inspiring benchmark throughout the year, and hope to see him back on the track soon."

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