Motor racing-Caterham F1 team seeks funds from fans

LONDON, Nov 7 (Reuters) - Administrators of the Caterham Formula One team announced a crowdfunding initiative on Friday to try to raise 2.35 million pounds ($3.72 million) by the end of next week so they can race in Abu Dhabi. "If we don't hit the target by next Friday, obviously the pledged funds will be returned," Finbarr O'Connell, the administrator representing Smith & Williamson, said in a statement. "But right now we are hopeful for the future of the team and we are confident that the team showing the world that it can race again will lead to a bright future under a new owner on a proper financial footing," added the 'interim team principal'. Caterham said companies and fans could pledge money through a website (www.crowdcube.com/caterham), starting from 10 pounds with contributors getting their name on the cars that would race in the Nov. 23 season-ender. (1 US dollar = 0.6314 British pound) (Reporting by Alan Baldwin in Sao Paulo, editing by Toby Davis)