Bernie Ecclestone allow Caterham to miss next two grands prix to find new buyer

Formula 1 supremo Bernie Ecclestone has given Caterham special dispensation to miss next the next two grands prix while they search for a new buyer.

Earlier today, the Leafield-based team announced that they have handed over the management of the team to administrator Finbarr O'Connell.

Administrators from Smith & Williamson accountancy and investment group have confirmed that Ecclestone has allowed Caterham to miss the United States and Brazilian races in order to find a buyer.

The 83-year-old, who has supported the administrators' decision to hunt for new owners, is believed to have expressed his hope that the team will have someone in place before the Abu Dhabi Grand Prix.