THE West Oxfordshire-based Caterham Formula 1 team will race in the Abu Dhabi Grand Prix, administrator Smith & Williamson has confirmed.

The London-based accountancy firm was looking to raise £2.35m from fans and companies around the world that would help the cash-strapped team, based at Leafield Techncial Centre, compete in the November 23 race at the Yas Marina circuit.

Caterham recently missed both the US Grand Prix in Texas and the Brazilian Grand Prix in Sao Paulo as the administrators attempt to restructure the team and find a buyer.

Earlier this week, Chipping Norton Formula 3 driver Alice Powell said she was hopeful of making her Formula 1 debut in Abu Dhabi, after her grandfather offered to put £35,000 towards Caterham's funds.

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