Caterham “not for sale” says Fernandes
The AirAsia boss denies media claims that he is seeking to wash his hands of his underperforming F1 team
Caterham boss Tony Fernandes has insisted he is still committed to Formula 1 in the wake of claims that his team is up for sale.
In January, he said he would quit F1 if the team’s performances did not improve, and this year, despite a best-ever finish of 11th in Monaco, they remain at the bottom of the constructors’ standings. A Malaysian newspaper then stated he was seeking £350million for the Caterham Group, and was circulating information memoranda in the Middle East.
Caterham have dismissed these claims as “factually incorrect”, claiming that Fernandes and co-owner Datuk Kamarudin Bin Meranun are “wholly committed to the Caterham brand”. Fernandes said: “Caterham Group is not for sale. We love what we build and are always looking for further investment. This is no different to how we started AirAsia. Yes, we constantly challenge ourselves and make decisions on everything from the structure to projects within the group. That is normal business. That does not mean we are selling.”
The team have faced uncertainty for some time. Last year, a deal was struck to merge Caterham and Marussia – effectively a takeover bid by Fernandes – only to fall down at the 11th hour.
F1 Racing understands Caterham are actively seeking investors and could be open to a sale, were the right buyer to make a decent offer.
Fernandes: “We constantly challenge ourselves. That is normal business. That does not mean we are selling”