Caterham Group not for sale insists Fernandes

Caterham Group not for sale insists Fernandes

Tony Fernandes has officially dismissed reports that he is intending to put the Caterham Group up for sale.

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Reports surfaced in the Malaysian media ahead of the Monaco Grand Prix that Fernandes was looking to sell the Group – which includes the Caterham F1 Team and Caterham Cars – in light of a lack of improvement from the F1 operation.

However, in a short statement released on Tuesday evening, Fernandes has rubbished those reports as factually incorrect, insisting he remains fully committed to the Group, for which he is actively seeking further investment.

“Caterham Group is not for sale,” confirmed the Malaysian businessman, who also owns no-thrills airline AirAsia and the recently promoted Premier League football club Queens Park Rangers.

“We love what we build and we are always looking for further investment. This is no different to how we started AirAsia.

“Yes, we are constantly challenging ourselves and making decisions on everything from the structure to projects within the Group. That is normal business. That does not mean we are selling.”

The Caterham F1 Team currently sits 11th in the constructors’ championship, having seen long-term rivals Marussia – who made their debut alongside the Leafield-based outfit in Bahrain in 2010 – collect their first points in the sport during Sunday’s Monaco Grand Prix, courtesy of Jules Bianchi’s ninth place finish.

Caterham are still yet to score points in what is their fifth season racing in Formula One, with a best result of 11th.

Image courtesy of Caterham F1 Team

Dan Paddock

Dan Paddock

Dan Paddock is an FIA accredited freelance motorsport and Formula 1 journalist and the recently appointed Grand Prix Editor of Richland F1. Dan joined the site in July of last year as a Staff Writer, fresh off the back of completing a master’s degree in journalism. He has since gone on to represent Richland F1 at the 2014 British Grand Prix, his debut in the Formula 1 paddock. Aside from Richland F1, Dan also writes for Rumble Strip News, as well as maintaing his own modest blog.