Caterham begging raises $1.6 million in only 48 hours

Like homeless people, Caterham has begged and received $1.6 million so far. They need $3.75m to make just one race. You can run an entire IndyCar season for that much money and have a chance to win races.

Caterham have raised over $1.6 million in just 48 hours in their controversial bid to make the Abu Dhabi Grand Prix.

The cash-strapped team's administrators revealed a plan on Friday to raise $3.75m in order to make the season finale in two weeks time.

The 'crowdfunding' scheme calls on fans to contribute a minimum of $1.60 in exchange for car parts, merchandise and even dinner with one of this year's drivers; Japan's Kamui Kobayashi or Swedish rookie Marcus Ericsson.

And in the hours ahead of the Brazilian Grand Prix, where neither Caterham nor Marussia, who went out of business earlier this week are competing, the Leafield-based team had hit seven figures. They have until Friday to raise the cash.

The unique scheme hasn't appeased all in the sport however, with ringmaster Bernie Ecclestone describing it as a 'disaster' for F1.

The 84-year-old said: 'It's up to the fans if that's what they want to do. I think it's a disaster. We don't want begging bowls. If people can't afford to be in Formula One, they have to find something else to do.

"If I sit in a poker game and I can't afford to be there with the other people, I get killed and have to leave.

"I don't know what they do with their money. I don't spend their money. We just give it to them. 'We give the teams nearly $900 million a year. We don't spend it."

Red Bull team principal Christian Horner added: 'Certainly I don't agree with fans having to fund a team.

"The fans pay to be entertained by the teams, they shouldn't have to pay for a team. The concept of that is wrong and shouldn't be allowed. It's important Formula One doesn't do it's dirty washing in public."