Caterham (formerly Lotus)

Bill Boddy

Professional layabout
Premium Contributor
As usual he bangs in about all the money that is given to the teams whilst conveniently leaving out how little Caterham have had. Hello, Mr Ecclestone, Caterham are actually an F1 team, you know, that circus that made your fortune. If the number of teams goes down so does the interest which feeds back to your pocket. And there won't be many putting in to the whipround for you.
 

Dash Racing

Points Scorer
It might be financially stupid, but how often is some random guy on the street going to be able to say they directly contributed funding to an F1 team? There's nothing wrong with intangible rewards. I have no difficulty at all imagining most of the contributors so far have found it emotionally rewarding or fulfilling in some way. If I had a few dollars to throw to Caterham for this, I probably would do so, because for me, it would be a once in a lifetime opportunity . Alas, I'm in just as dire straits as Caterham.
 

The Pits

Harumph. Again.
Valued Member
Its ok, they have sort of done it before, I believe that Kobayashi was in F1 this year due to something similar to crowd funding.

I am more concerned with what happens to donated money if they do not hit the target, or if they hit the target, race in Abu Dhabi then fold?
 

Dash Racing

Points Scorer
Wouldn't it be more emotionally rewarding to give money to a worthwhile charity rather than a shit F1 team?
For some people, yes. Others don't find that rewarding at all. Personally, I do find it rewarding. But you're missing the significance that for many, helping fund an F1 team is a once in a lifetime opportunity. You can contribute to charity any time. Contributing to an F1 team as random Joe on the street is only rarely going to come up.
 

The Artist.....

Champion Elect
Dash Racing

Frankly, that's bullshit. You can send a cheque to any F1 tam right now, and they will take your money and you will have helped fund it!

You could even go and buy a baseball cap for £40, and get exactly the same outcome!

Crowd funding is like the emperor's new clothes. One of these days, people will realise that since there's no return, there's no point!
 

Dash Racing

Points Scorer
Dash RacingFrankly, that's bullshit. You can send a cheque to any F1 tam right now, and they will take your money and you will have helped fund it!
How many people know that? As for buying merch, if you already have one of their baseball caps, why would you want or need another one?

It's clear you and I have very different attitudes on crowd funding. It's been an interesting discussion, but I can tell we're not going to see eye to eye. Thanks for the discussion.
 

The Artist.....

Champion Elect
Of course, even if Caterham make their target, there's no guarantee that they'll actually be on the grid in 2015... This strikes me as an attempt to milk the fans, to ensure they get the prize money in 2015, and then there'll be no actual obligation to build a new car.

Out of interest, did you also know that crowd cube will take approximimately 7p out of every pound pledged? For small pledges, the fees could be as high as 28%.

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