TALKS surrounding the future of the West Oxfordshire-based maker of Caterham Formula 1 racing cars are “not making much progress”, administrators said.

Caterham Sports, which has its factory at Leafield Technical Centre, near Witney, designs and builds cars for the Caterham F1 team, which operates under licence from the 1 Malaysia Racing Team (1MRT).

The F1 team was bought in July by a group of Swiss and Middle Eastern investors from entrepreneur Tony Fernandes, who owns Premier League football club Queen’s Park Rangers.

Administrator, London-based Smith and Williamson, appointed on October 17, has been in contact with 1MRT about continuing the relationship between Caterham Sports and the F1 team.

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The administrator’s Mark Ford told the Oxford Mail: “We are in discussions with 1MRT who hold the licence to participate in F1 about fulfilling their need in return for remuneration and consideration, as necessary, going forward. We are not making much progress in that regard.”

Bailiffs from the Sheriff’s Office, which enforces High Court decisions, raided Leafield Technical Centre at the end of last month, seizing an F1 test car, parts and tools for F1 cars plus other items.

About 200 people work at the factory after 40 were made redundant in July.The remaining employees transferred from Caterham Sports to 1MRT.

Team principal Manfredi Ravetto said in a written statement: “Caterham Sports Limited going into administration does not affect the Formula 1 team.”

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