Fernandes insists Caterham not for sale

By on Tuesday, May 27, 2014
Caterham F1 Team

Caterham F1 Team

Caterham owner Tony Fernandes has dismissed reports that he has put Caterham Group up for sale.

Fernandes, whose QPR football team was promoted to the English Premier League last weekend, had suggested at the start of 2014 that the team would be sold if results did not improve.

Caterham equalled their best ever finish in Monaco when Marcus Ericsson came home in 11th, but it was tempered by long-term rivals Marussia collecting their first points with Jules Bianchi in ninth.

Reports at the weekend suggested that Fernandes was looking to offload Caterham Group but the Malaysian insists they are wide of the mark.

"The Caterham Group is not for sale," he said in a statement issued on Tuesday.

"We love what we build and we are always looking for further investment. This is no different to how we started [airline company] 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. It is, however, true that the Group is actively searching for additional investment as it seeks to fulfil ambitious plans to develop."

If you liked this post then share it with your friends on social media websites. You can also follow us on Facebook and Twitter to stay up to date with the latest F1 news.