MX23RW : Tuesday, November 26 13:48:44| >> :600:308679665:308679665:

Marcus Ericsson terminates contract with Caterham

Marcus Ericsson, who will race for Sauber in 2015, announces that he has terminated his contract with financially-stricken Caterham with immediate effect.

Marcus Ericsson has announced the termination of his Caterham contract with immediate effect.

The 24-year-old, who has already agreed a deal to join Sauber for 2015, has not raced at the last two grands prix because of Caterham entering administration.

Should the financially-stricken team field two cars at the season-ending event in Abu Dhabi on November 22, Ericsson will not be in a seat, with the Swedish driver having severed all ties ahead of his Sauber switch.

A statement on his website read: "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. 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 teammate Kamui Kobayashi for being an inspiring benchmark throughout the year, and hope to see him back on the track soon."

Ericsson failed to secure Caterham a single point during the 2014 season.

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Kamui Kobayashi of Japan and Sauber F1 is seen outside his team hospitaly unit during previews for the Brazilian Formula One Grand Prix on November 22, 2013
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