On 21 January 2014, it was announced that the team would have a brand new driver line-up with Marcus Ericsson and Kamui Kobayashi taking the seats.Team owner Fernandes warned team members that he would quit if results did not improve in the 2014 season.
After the 2014 Monaco Grand Prix, Caterham became the record holders for the most race starts without scoring a single point, after fellow rivals Marussia scored their first points finish since entering the sport in 2010, courtesy of the 9th place finish from Jules Bianchi.
On the 2nd July 2014, Caterham F1 announced that it was now owned by a consortium of Swiss and Middle Eastern investors, advised by former F1 Team Principal Colin Kolles. Former Dutch F1 driver, Christijan Albers, assisted by Manfredi Ravetto, became responsible for the day-to-day running of the team Under this new management, unexpectedly, Kobayashi did not compete in the Belgian Grand Prix at Spa-Francorchamps. In his place, former Jaguar F1 test driver and three-time 24 Hours of Le Mans winner, André Lotterer, made his début in Formula 1. He retired early from the race due to mechanical issues and turned down the chance to further race for Caterham or in F1 unless under better conditions.
Christijan Albers has resigned as Caterham's Team Principal – just two months after arriving at the team as part of the Leafield outfit's takeover by unknown Swiss and Middle Eastern investors.
In the latest twist amid a season of upheaval at the former Tony Fernandes-owned squad, Caterham announced immediately after the Italian GP that Albers had stood down from his joint role as Team Principal and CEO at Caterham to be replaced by his deputy Manfredi Ravetto.
Ex-F1 driver Albers, who started 46 grands prix for Minardi and Midland/Spyker between 2005 and 2007, cited "private issues" for his sudden resignation in a post-race statement issued by Caterham after their cars finished 17th and 20th at Monza.
On 21 October 2014, it was announced that Caterham had entered administration. It has been announced that Caterham F1 has withdrawn its management team. A statement issued on behalf of Caterham said that the administrators, Smith & Williamson, were now in control of the team.Bernie Ecclestone has given Caterham special dispensation to miss the United States and Brazilian Grands Prix while they attempt to find a buyer for the team.
In spite of the above dispensation, absence from any Grand Prix is a breach of the F1 regulations. Nevertheless, at the 2014 United States Grand Prix, because of the team's current financial circumstances (similar to those of Marussia F1), the FIA stewards decided to not impose any penalties. Instead, they referred the matter to the attention of the FIA president. In addition, for 2015, Sauber announced the engagement of Caterham's driver, Marcus Ericsson who terminated his contract with Caterham on 12 November 2014
Return to racing
On 5 November 2014, the FIA released the provisional 2015 entry list which included Caterham, who were listed as CF1 Caterham F1 Team. During the same week, it was also revealed that the team had arranged a surprise 3-race deal with Rubens Barrichello who last raced in 2011 and would have taken over Kobayashi's seat for the remainder of the 2014 season.
During the 2014 Brazilian Grand Prix weekend, Caterham's administrators resorted to crowdfunding in order to keep the team's chances of a return to F1 alive, much to the dismay of some F1 personalities including Bernie Ecclestone. On 14 November 2014, it was reported that Caterham had succeeded in raising the necessary funds, via the crowdfunding initiative, to compete at the final Grand Prix of the 2014 season at Abu Dhabi. By contrast to multi-nationals logo's adorning other team cars, according to media reports, a crowdfunding on-car sponsor for Caterham was a small UK pub.
On 16 November 2014, it was announced by Caterham that Kamui Kobayashi would drive for the team at Abu Dhabi] and, on 20 November, that the second driver would be 23 year old British driver, Will Stevens who had previously tested for the team.
On 25 July 2014, it was announced that over 40 former employees were taking legal action against the team for unfair dismissal, following a number of cost cuts by Caterham F1's new owners.
In November 2014, despite Caterham F1 returning to racing under the control of its administrator following a successful crowdfunding initiative, 230 staff members not directly involved in Grand Prix preparations were made redundant.