F1 braced for further expansion as team launch bid for 12th grid spot

A one-time F1 team is gearing up for a possible return to the grid after more than a decade away, they have announced.

Caterham failed to score a single point in their three active seasons from 2012-14, with their drivers including future Indy 500 winner Marcus Ericsson.

But thanks to the backing of 24-year-old Kuwaiti entrepreneur Saad Kassis-Mohamed and his investment firm, SKM Capital, the squad are gearing up for another crack in 2027.

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The project will operate as SKM Racing for now, and has already created a technical centre in Silverstone as a hub to produce parts, while its racing department will be based in Munich.

“Formula 1 is a disciplined engineering competition with a predictable cost framework,” said Marcine Graham, managing partner of SKM Capital, in a press release announcing the project.

“This combination makes it attractive for investment. We are building a compact, data-driven organisation that is sustainable and competitive from the outset.”

Caterham set for 2027 return?

The team have yet to confirm which engine supplier it would partner with, but they are relatively short on options, with Ferrari or Honda the only realistic candidates.

They face a race against time to be in a position to submit registration documents to the FIA by the start of 2026, before attention will turn to ensuring they are ready to hit the ground running the following season.

Nothing is guaranteed at this stage, however, with approval from the FIA and Formula One Management notoriously hard to acquire.

Should they be successful, the team would become the 12th representative on the grid, with Cadillac to be added to the current crop of 10 next year.

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