Status Grand Prix have purchased the Caterham Racing GP2 team and will enter the series in 2015.
Established by Tony Fernandes for the 2011 season under the AirAsia banner, the Caterham GP2 team had remained part of the Caterham Group following the sale of their Formula 1 team earlier this year.
In their four seasons in the category, the Caterham team claimed four victories with Davide Valsecchi, Giedo van der Garde and Alexander Rossi.
The team has now been acquired by Status, who have competed in GP3 since the inaugural season in 2010. The Caterham Racing name and current driver pairing of Rio Haryanto and Pierre Gasly will remain in place for the final round of the 2014 season in Abu Dhabi next month. Before then, the operation and personnel will be moved from Leafield to the Status headquarters at Silverstone.
“Having been multiple winners in GP3, as well as A1GP World Cup champions with A1 Team Ireland, we have always had the ambition to move further up the motorsport ladder when the time is right,” said Status team principal Teddy Yip.
“The opportunity to take over an established and highly-regarded GP2 team such as Caterham Racing, allied to a strong season in GP3, makes that time now. The Status GP2 team will be run from our Silverstone base to the same exacting standards as our race-winning GP3 team.”
Fernandes explained that after the sale of his F1 team, it made sense to hand over the GP2 squad to an existing GP3 competitor.
“Firstly, I would like to say that this announcement is very positive for us and Status Grand Prix,” said Fernandes.
“We have built a strong GP2 team with excellent personnel over the last four years, and we can be proud of the multiple race wins and podiums we have achieved in the Series.
“It became clear to me some time ago that, without Caterham F1 team, we should seek affiliation with a GP3 team to create a more effective ladder for young drivers who aspire to Formula 1.
“Following in-depth discussions with Status Grand Prix, we have reached an agreement that will strengthen and secure the future of the GP2 team. I would like to thank Bruno Michel and the GP2 Series for four successful years and wish Status Grand Prix the best of luck for the future.”
GP2 Series CEO Michel commented: “I am pleased to welcome Status Grand Prix to GP2 Series. They?ve been in GP3 since the beginning and have been successful over the past five seasons. I have no doubt that with the help and the experience of the current staff, they will be able to achieve the same level of performance in GP2 and will adapt quickly to the demands of the category.”