The administrator behind Caterham believes the Leafield-based team have until the end of the month to find a buyer if the team is to have any hope of competing in the Formula 1 championship this year.

Negotiations remain ongoing with three credible candidates, although they have been described as “annoyingly slow” by Finbarr O’Connell, administrator at London-based company Smith & Williamson.

With just four weeks to the first of the three pre-season tests, and ten weeks to go ahead of the season-opening grand prix in Australia, time is fast running out.

Asked whether he remained hopeful a deal could be struck, O’Connell said: “My view is we have this month and that’s it. It might slip into next month, but only if final details are being resolved.”

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