The contract between 23-year-old Dutch racer Robin Frijns and 1Malaysia Racing Team has expired.

According to a statement issued this morning, the contract, which was with 1Malaysia Racing Team (1MRT), the company which holds the race licence of the Caterham F1 Team, expires today (15 December).

"I'd like to say thank you and goodbye to all the people at Caterham F1 Team, whom I have worked with over the past twelve months," said Frijns. "I keep my fingers crossed that there will be a future for the team in Formula One in 2015 and beyond. Especially I'd like to thank former team principal Cyril Abiteboul whom I consider to be mainly responsible for giving me the chance to become a part of the team."

"Our partnership with Caterham expires today, since the team obviously hasn't exercised their option to extend the contract," said his managers. "We cannot deny that the year has developed in a disappointing way after all, but we now have to focus on creating a better situation for next year. However, no decision about Robin's future has been made yet."

Though Administrators are said to be in talks with three prospective buyers, and the original deadline has now been postponed, no real news of any significance is forthcoming.