Ericsson cuts ties with Caterham F1 team

Marcus Ericsson – his money would go a lot further in IndyCar

Marcus Ericsson says he has severed his ties with the Caterham Formula 1 team with immediate effect.

The Swede, 24, made his F1 debut with Caterham this season, but has missed the past two races in the United States and Brazil after the team went into administration.

Caterham is attempting to return to the grid in Abu Dhabi via a crowdfunding scheme, and surpassed 50 per cent of its £2.35 million target on Tuesday.

But Ericsson, who is already confirmed at Sauber for 2015, has ruled himself out of a final race for Caterham should the team return.

"Following recent events re Caterham Sports Limited and 1 MRT Sdn Bhd, my adviser Eje Elgh and I have decided to terminate, with immediate effect, all agreements connecting me to the Caterham F1 team," said Ericsson in a statement on his official website.

"This is a sad day as we have greatly enjoyed working with the team through a difficult and tough season.

"I wish to thank Colin Kolles, Manfredi Ravetto, Cyril Abiteboul and every other member of the Caterham F1 team for your trust and confidence in me, and for making my first Formula 1 season an educational and unforgettable experience.

"In addition, I thank my good friend and team-mate Kamui Kobayashi for being an inspiring benchmark throughout the year, and hope to see him back on the track soon."