Caterham insists it will race despite item auction

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F1 Grand Prix, GP Japan, Circuit Suzukajp

Caterham F1 team insist they are not in financial trouble and will complete the Formula One season without problems, despite the announcement from High Court Officers on an impeding sale of Caterham F1 equipment.

The sale is set to include, among other items, a Caterham CT03, Caterham F1 car parts (due for Japan 2014), Full size 6 DOF motion platform F1 simulator, Caterham F1 steering wheels, F1 wheels with tyres, drilling & machining equipment and pitlane equipment.

The goods are reported to have been removed from the Leafield enforcement - the team's headquarters - and are in secure storage. Despite no date being set, The Sheriffs Office calls for interested parties to register before the public auction is taking place.

In response to the post, Caterham F1 released a statement, insisting it will continue to race while claiming that all operations are still running as scheduled.

"There have been unfounded and unsubstantiated rumours concerning actions against 1MRT, the entrant and owner of CaterhamF1", the statement reads.

"An action was threatened yesterday against a supplier company to 1MRT. This company is not owned by 1MRT and it has no influence over the entry of CaterhamF1 or the entrant.

"Also contrary to uncontrolled rumours, all operations are currently in place at Leafield and the race team is doing its preparation in Japan.