Caterham Reveals Lumps Of Coal Left In Crowdfunding Fans’ Stockings


Currently defunct Formula One racing team Caterham, controversially launched a last-ditch crowdfunding campaign – that yielded $3.75 million and would allow the team to race the 2014 season finale at Abu Dhabi – by selling various team bits and small sponsorship deals to rabid F1 fans. The company has revealed that the crowdfunding effort brought the team a profit of $117,200 after the value of what they sold in the crowdfunding effort was determined to be only $250,500. The team spent the other $3.5 million on the cost of racing at Abu Dhabi – including $45,000 on catering alone.

Additionally, Caterham revealed that pay drivers Kamui Kobayashi and Will Stevens contributed $805,275 for the race.

Caterham remains in debt to the tune of $25.6 million.

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