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May 25, 2014 - 05:08 AM
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Fernandes not responding to Caterham sale reports
Posted by: Admin on May 25, 2014 - 05:01 AM
Formula 1 News
Fernandes not responding to Caterham sale reports


Tony Fernandes is not responding to reports he plans to sell Caterham.

Ten days ago, we reported paddock rumours that the backmarker team, which may be behind in its engine and gearbox payments to suppliers Renault and Red Bull, could be losing the support of its founder.


 

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Fernandes has scarcely been seen in an F1 paddock for months, and on Saturday he appeared to have found another source of "ecstasy" as he watched his London football club Queens Park Rangers move into the premier league.

Now, as the sun rises in the Monaco harbour for F1's premier race, Bloomberg and The Edge Malaysia report that Fernandes plans to sell the Caterham Group.

Citing a source and a memorandum circulated in the Middle East, The Edge said the Malaysian entrepreneur is seeking just under $600 million for the road car company and the F1 team.

Bloomberg said Fernandes did not respond to a phone call, text message and email about the matter.

But he warned in January: "If we're at the back (in 2014) I don't think I will carry on. This is it -- the final chance. I need to feel like we're going somewhere."

In March, Caterham's joint road car venture with Renault was scrapped, and the Malaysian Reserve newspaper reported on Friday that plans for a premium airline to be called Caterham Jet have also been scrapped.



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