Caterham in talks with 'three interested parties' to be back on F1 grid next season

British car-making company Caterham's administrator has said that they are in talks with three interested parties as the team looks forward to be on the Formula One grid next season.

Caterham went into administration in October and made 230 staff redundant. Joint administrator Henry Shinners said that they want to give the team every chance of surviving so they are not setting a deadline.

However, testing for the new season begins on February 1 with the first race on March 15 in Australia. Shinners, of London firm Smith and Williamson, conceded that as some staff, who were made redundant have gone on to find new jobs, the risk of buying the team is increasing, The BBC reported.

Caterham missed the United States and Brazilian Grands Prix after going into administration but a successful crowd-funding project saw them compete at the season finale in Abu Dhabi.

Shinners added that being in Abu Dhabi, where Will Stevens and Kamui Kobayashi drove for the team, was useful as the administrators were able to hold talks on-site with two interested parties but nothing is yet definitive.

If Caterham find a buyer and make it onto the grid next season they would need to re-employ staff and sign two new drivers, the report added.