You know the F1 team Caterham? They want to race in the F1 final in Abu Dhabi on November 23, but don’t have enough money. So they’ve taken to crowd funding, and have raised £1.075million in just two days.

With financial support from 2,199 backers, it’s looking hopeful that the team will be showing face in the Middle East.

How have they done this? Why, by selling earplugs and badges, of course. They are also “offering people the chance to enter a competition to have their name on a racing car at the Abu Dhabi Grand Prix”.

What’s great is that a “possible buyer” for the team has emerged…

The administrator to the team [Finbarr O’Connell] also said that an unnamed “new financially-sound interested party” was considering acquiring Caterham.

The project, however, has received criticism from Bernie Ecclestone, who says “teams should not be funded via “be’ging bowls'”.

O’Connell has answered this:

“The plan is not to run a F1 team by using crowdfunding, but rather this funding is providing a stepping stone for the team to a new financially sound future. If teams don’t race they are at a huge disadvantage as regards a potential purchaser making a very expensive purchase decision and this project gives the team the ability to showcase itself and especially its cars.”

Good luck to them.

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