27 May '14, 11am

Caterham Cars, Formula 1 team up for sale – reports

Caterham Cars, Formula 1 team up for sale – reports

Various reports have cited a report by The Edge Malaysia on Sunday saying that AirAsia CEO Tan Sri Tony Fernandes may be planning to sell niche sports car company Caterham Cars and its Formula One team . The financial publication reported on Sunday, citing an unnamed source, that the 50-year old was looking for around 350 million pounds (RM1.9 billion) for the sale of Caterham Group and all its assets. It also said an information memorandum pertaining to the sale was being circulated in the Middle East. Fernandes, who bought Caterham in 2011 , reportedly warned in January that he would pull out from Formula One if the team’s performance didn’t improve in 2014. “If we’re at the back, I don’t think I’m going to carry on. Nothing is set in stone, but after five years with no points, there is a limit to one’s patience, money and motivation,” he said. Caterham F1 has not scored...

Full article: http://paultan.org/2014/05/27/caterham-up-for-sale/

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