Status Grand Prix will expand into GP2 in 2015 after purchasing Caterham Racing
Team will be rebranded following season finale in Abu Dhabi
By William Esler
Last Updated: 17/10/14 2:38pm
Status Grand Prix will expand into GP2 in 2015 after completing the purchase of Caterham Racing and their entry.
Tony Fernandes had already sold the Caterham F1 team to a consortium of Swiss and Middle Eastern investors earlier this year and has now also relinquished his GP2 team.
The squad will continue to compete as Caterham Racing at the final two rounds in Abu Dhabi, but will relocate from Leafield to Status’ Silverstone base ahead of November’s races.
“Having been multiple winners in GP3, as well as A1GP World Cup champions with A1 Team Ireland, we have always had the ambition to move further up the motorsport ladder when the time is right,” Status Team Principal Teddy Yip said.
“The opportunity to take over an established and highly-regarded GP2 team such as Caterham Racing, allied to a strong season in GP3, makes that time now. The Status GP2 team will be run from our Silverstone base to the same exacting standards as our race-winning GP3 team.”
With Status also taking on the personnel employed by Caterham Fernandes hopes the team’s long-term future has been secured.
“This announcement is very positive for us and Status Grand Prix,” the Malaysian said.
“We have built a strong GP2 team with excellent personnel over the last four years, and we can be proud of the multiple race wins and podiums we achieved in the series.
“It became clear to me some time ago that, without Caterham F1, we should seek affiliation with a GP3 team to create a more effective ladder for young drivers who aspire to Formula 1.
“Following in-depth discussions with Status Grand Prix, we have reached an agreement that will strengthen and secure the future of the GP2 team.”
Rio Haryanto and Pierre Gasly will remain with the team for the final races in Abu Dhabi. Earlier this week Status co-owner Mark Gallagher hinted on Sky Sports' F1 Midweek Report that current GP3 racer Nick Yelloly could progress into GP2 with his squad in 2015.