Caterham’s familiar green might yet find its way back onto the Formula 1 grid — this time via a brand revival led by a 24-year-old Kuwaiti investor with a sharp eye for timing.
Saad Kassis-Mohamed, fronting investment outfit SKM Capital, is pushing a plan to launch SKM Racing and bring the Caterham name back to F1 as early as 2027. The proposal hinges on a customer power unit deal and, crucially, a brand licence rather than any attempt to resurrect the old team’s defunct corporate shell.
“F1 now operates with clearer financial guardrails and stable technical frameworks, making the category investable,” Kassis-Mohamed told Sportstar, pointing to the budget cap era and a healthier commercial landscape. “Caterham has strong recall and no current grid presence. A brand licence shortens the marketing ramp without reviving the defunct corporate entity or its liabilities.” His roadmap: either buy into an existing entrant or apply in the next FIA process as a compact, well-funded customer outfit with long-term PU supply.
History first. Tony Fernandes rebranded his Lotus team to Caterham for 2012 after acquiring Caterham Cars, but the operation never scored a point and fell off the grid after 2014 amid financial turmoil. Caterham Cars later landed under Japan’s VT Holdings in 2021. What’s on the table now is a clean slate with a familiar badge.
Whether a badge is enough is another matter. The last expansion saga — the Andretti/Cadillac odyssey — underlined the political and commercial bar to entry. FIA approval came quickly during the Expressions of Interest window; Formula One Management didn’t budge until General Motors committed to becoming an engine manufacturer, paving the way for Cadillac’s 2026 entry. The implied message: turn up with heavyweight OEM muscle or don’t turn up at all.
The FIA, for its part, has been clear about priorities. President Mohammed Ben Sulayem has repeatedly argued for quality over quantity and signalled strong interest in a Chinese entrant following GM’s commitment. “Do we have to fill up the grid with a 12th team for the sake of filling it? No. It will be the right team,” he said, stressing any addition must “add value to sustaining the business of Formula 1.”
Against that backdrop, SKM’s Caterham play is ambitious and timed to a friendlier rulebook, but it still faces the same gatekeepers and the same cold math. A customer PU deal and a nostalgic brand help the pitch; they don’t clinch it. The cleaner route might be a change-of-control transaction with an existing team — if one becomes available — or locking down an OEM-aligned partnership that convinces FOM there’s genuine upside.
Caterham’s story once ended with a whimper. If SKM gets its way, the sequel will need a lot more than green paint and good intentions. The 2027 target is bold. The next steps will show if it’s real.
