Caterham 'allowed' to miss US and Brazil GPs by Bernie Ecclestone

The Caterham team have failed to score a point in a Formula 1 race since entering the sport in 2010

Bernie Ecclestone will allow Caterham to miss the next two Formula 1 grands prix to focus on finding a buyer.

Caterham are in administration and could void their contract with Ecclestone for missing races.

However, the F1 boss has "agreed to give dispensation that it could miss the US and Brazilian Grands Prix".

Ecclestone said it was "OK" for the team to sit out the races, adding: "I wonder if they are going to do it [find a buyer]."

He said there would be no problem with a reduction to 10 F1 teams, but added: "Let's hope it's all right and someone might come along."

Ecclestone and Caterham's administrator remain hopeful that the team will be able to compete at the final race of the season in Abu Dhabi in November.

A statement from the administrator, London-based accountancy firm Smith & Williamson said: "Mr Ecclestone also agreed to give dispensation to Caterham F1 such that it could, if necessary, miss the US and Brazilian Grands Prix, but hoped that a new owner would be in a position to race the team at the Abu Dhabi Grand Prix.

"The administrators have been contacted by a number of interested parties and they hope a transaction with an operator of substantial financial means can be concluded in the next few weeks."

Administrator Finbarr O'Connell closed the team's factory at Leafield on Thursday and told Caterham staff not to return until a deal has been concluded.

The administrators had already been working on behalf of the creditors of Caterham Sports Ltd, a company which makes and supplies cars to 1MRT - the entity which owns the licence to race in Formula 1.

Smith & Williamson have since been placed in charge of 1MRT.

Caterham say they took the decision to hand over the running of the team to administrators "in the higher interest of allowing the team to continue operating and preparing for the next events".

Caterham's factory was closed on Thursday by administrators

Formula 1 boss Bernie Ecclestone says he would "rather not lose teams"