After failing to meet their approximate $3.7 million goal in a desperation attempt to crowdfund their final race in the Formula One racing season at Abu Dhabi next weekend, the financially-troubled Formula One racing team, Caterham, laid off most of their staff and announced they will participate in the final race of the season anyway.
Caterham raised only 80% of their goal at their crowdfunding site [see link below] before the deadline last Friday and have extended the deadline a week in a last-ditch effort to achieve the full amount.
The final race of the season takes place at Abu Dhabi on November 23, 2014.
Source: Caterham Crowdfunding Site