Ex-Formula 1 team Caterham could return to the grid in 2027, backed by 24-year-old Kuwaiti entrepreneur Saad Kassis-Mohamed and his investment firm, SKM Capital.
Caterham competed in the sport from 2012 to 2014 after taking over the Lotus Racing entry, but the team struggled at the back and never scored championship points.
Known more for its ambition than results, it folded after financial difficulties, leaving a familiar brand name but little legacy on track.
The prospective project, which aims to restore the Caterham moniker, will operate as SKM Racing for the time being and has already established a technical centre in Silverstone, where it will produce parts and use test benches. Meanwhile, its racing department will be based in Munich, though further details have not been disclosed at this stage.
SKM Racing has filled a handful of key positions, including Elena Richter (Managing Director), Marco Bianchi (technology), Aisha Khan (performance), and Tobias Meier (finance). The first three bring prior F1 or motorsport experience to the team.
Kassis-Mohamed, named last year on Forbes’ ‘30 Under 30’ list in the Social Influence category, has earmarked €280 million for the venture.
“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.”
He plans to expand the operation from an initial 210–230 employees at launch to around 320 by its third year, recruiting talent through partnerships with UK and German universities.
“We will not recruit more people than is really necessary until our foundation is ready,” explains Richter.
Plans underway for Caterham return in 2027
Discussions are also underway with two of F1’s current engine suppliers for a multi-year deal and technical cooperation.
SKM does not want to produce all parts itself: “We save time by making smart decisions about what we produce ourselves and what we outsource.”
While the team has not confirmed which supplier it will partner with, options are likely to be limited to Ferrari or Honda, as Mercedes will already supply the maximum of four customer teams in 2027, and Red Bull Ford Powertrains only supply Red Bull and its sister team, Racing Bulls.
Audi will supply itself, whilst Cadillac, after initially using Ferrari engines for its 2026 F1 debut, is expected to become a full power unit manufacturer later in the decade.
The team has set an ambitious schedule, aiming to submit complete registration documents to the FIA at the start of 2026, by which time the Silverstone factory must also be fully equipped.
The first chassis is expected by the third quarter of 2026, after which system checks on the test benches can begin.
The only remaining requirement for a planned F1 debut in 2027 is approval from the FIA and Formula One Management, a challenge that has previously caused delays for projects such as Andretti and Cadillac.
SKM is considering the Caterham name partly because its prior F1 history could make it easier to secure approval to enter the sport.
“Caterham is still a familiar name to many, but they are not currently participating in F1,” Kassis-Mohamed told Sportstar Magazine.
“A brand licence makes it easier to enter the marketing world without having to revive the old company and its debts.”
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