A surprising announcement has emerged from the world of Formula One, with confirmation that a young Kuwaiti investor is seeking to bring the name of Caterham back to the grid. The project, led by 24 year old Saad Kassis-Mohamed, aims to field a new entry under the banner of SKM Racing, targeting the 2027 season as its debut.
The plan has been presented in a detailed press release that outlines significant financial backing, a management structure with experience in international motorsport, and a two-site operational model spanning both Silverstone and Munich. Whether Formula One’s governing and commercial bodies will accept another new entrant after the difficulties surrounding Andretti remains the crucial question.
A fresh face with big ambitions
Kassis-Mohamed is no stranger to recognition in business circles. Earlier this year, in spring 2025, Forbes included him in its list of 30 most influential people under 30, under the category of Social Influence in Africa. Away from motorsport, he runs a foundation on the continent, and now he intends to bring the same profile into Formula One by using his investment company SKM Capital.
The funding structure envisages 280 million euros over the first three years of operations. Speaking on behalf of SKM Capital, managing partner Marcine Graham described Formula One as “a disciplined engineering competition within a predictable cost framework.” That combination, she argues, makes it an attractive proposition for investment. The intention, she explained further, is to establish a compact and data-driven team that can be competitive from the outset, while also being sustainable in its financial and organisational design.
Dual-base structure in Silverstone and Munich
The technical heart of the new team will be located in Silverstone, England, a location long associated with Formula One engineering and technology. There, SKM Racing has secured a facility that will allow it to produce its own parts and conduct testing on-site. Complementing this, the racing department will be based in Munich, Germany, although fewer details were shared about this aspect of the operation.
Four key individuals have already been named to leadership roles. Elena Richter, with previous Formula One experience, will serve as Managing Director. Marco Bianchi will oversee technology, Aisha Khan takes responsibility for performance, and Tobias Meier will lead finance. Each has experience in motorsport or top-tier international projects, though the exact breadth of their Formula One backgrounds has not been disclosed in depth.
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A lean but expandable workforce
Richter has outlined that SKM Racing intends to begin with a staff of between 210 and 230 employees, rising to around 320 by the end of its third year. She emphasised that the recruitment strategy will avoid over-expansion until the core foundations of the team are firmly in place. To support long-term development, a junior research programme will be established with universities in both England and Germany.
On the crucial question of engines, Richter confirmed advanced discussions with two current power unit manufacturers. The intention is to secure a multi-year supply agreement that also allows for technological collaboration. This approach will be essential, since the team does not intend to produce every component in-house. Instead, as Bianchi elaborated, the philosophy is to make pragmatic choices about what to build internally and what to outsource, saving both time and resources.
The guiding principles, according to Bianchi, are built on three pillars: reliable engines, correlating technology, and strict corporate management. He argues that following this formula will naturally produce competitive performance on track.
A challenging but defined timeline
The calendar for SKM Racing’s entry is ambitious. By early 2026, the team aims to submit its full application to the FIA, while also having the Silverstone base completely operational. The first chassis should be complete and roadworthy by the third quarter of 2026, with system checks beginning soon after.
From there, the final hurdle will be gaining formal approval from both the FIA and Formula One Management. Recent precedent suggests this will not be straightforward. Andretti’s well-documented attempts at entering Formula One were blocked by Formula One despite receiving FIA approval. Only when General Motors stepped in and confirmed a Cadillac works team did the commercial rights holders appear willing to reconsider.
The Caterham connection
One aspect that has drawn attention is the use of the Caterham name. Kassis-Mohamed explained in an interview with Indian magazine Sportstar that the Caterham brand remains recognisable to many fans, even though the team last competed in 2014. By acquiring a brand licence rather than reviving the old company, SKM Racing can tap into Caterham’s marketing potential without assuming its former debts.
The history of Caterham in Formula One is a brief and troubled one. Born from Tony Fernandes’ Lotus entry in 2010, the team ran under the Caterham identity from 2012 until its collapse in 2014. Across three seasons it failed to score a single championship point and consistently found itself at the back of the grid. By 2015, the operation had entered bankruptcy and its assets were sold or auctioned. For many fans, the name recalls a well-intentioned but ultimately unsuccessful effort at making the leap into the Formula One elite.
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Will Formula One accept another new entrant?
The timing of SKM Racing’s announcement is significant. The current Concorde Agreement expires in 2025, with negotiations underway for the next era of Formula One governance and commercial rights. One of the most contentious issues is the grid size. At present, the sport appears reluctant to expand beyond 10 teams, citing cost dilution for existing entrants.
The use of a recognisable brand name, significant upfront investment, and a dual-base approach may give SKM Racing credibility, but they still face the same political resistance that Andretti encountered. Without alignment with a major automotive manufacturer, the project risks being dismissed as another customer team, something Formula One has shown little appetite for in recent years.
For now, the project remains in the preparatory stage, and the next 12 months will be crucial. By early 2026, if the Silverstone base is complete and the application submitted, the FIA and Formula One will be forced to make a decision. Until then, the jury will watch closely to see if SKM Racing can succeed where Andretti stumbled.
What do the jury think? Does Caterham’s name carry enough weight to justify a Formula One comeback, or is this simply another hopeful project destined to struggle against the political realities of the sport?
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