The crowdfunding effort designed to resurrect the Brabham Racing team has announced plans to extend the deadline in order to reach its first fundraising target.

Project Brabham, launched little over a month ago, has already garnered plenty of support from motor racing fans the world over having raised £237,000 ($430,836) of the £250,000 target.

The crowd-funding platform sees donations from as little as one pound through to the £10,000 ($19,000) VIP package, which allows two people a track day at Silverstone under the tutelage of David Brabham, the youngest son of three-time F1 world champion Sir Jack Brabham.

Having secured 94 percent of the primary target, the initiative has decided to extend its deadline until November 15 in the hope of reaching the goal.

“I’m already staggered by the clear dedication and support of the community we’ve built so far, said David Brabham.

“We’ve had some potentially interesting opportunities arise in what was going to be our last week of crowdfunding and to us it made sense to follow the advice of Indiegogo and extend the campaign.

“But, as we have said from the start, we want people to join Brabham Racing and collaborate in the team’s development, so we asked our community to take the vote and their decision is clear.”

Brabham has set a goal of establishing itself as an LMP2 operation before graduating to LMP1 and vying for outright honours at the Le Mans 24 Hours in four years.