Photo: Caterham
Tony Fernandes, CEO of the low-cost carrier AirAsia Berhad and the founder of Caterham F1, is reportedly ready to sell the whole Caterham Group for £350 million ($589 million at current exchange rates).
According to The Edge Malaysia, the British entrepreneur offers for the aforementioned sum of money everything there is about the UK-based brand: Caterham Cars Ltd., Caterham F1, Caterham Technology and Innovation and Caterham Composites.
So why this change of heart? Well, this action may have something to do with Fernandes' January warning that he would stop funding the Caterham F1 Team if results wouldn't improve in the near future.
After six races in the 2014 season, Caterham F1 still holds bottom place in the constructors championship. And truth be told, Caterham F1 Team never managed to impress since the team was acquired by Fernandes from venture capitalist group Corven a few years ago.
Couple that with the Queens Park Rangers FC's mounting financial problems and you get a glimpse of the full picture behind this rumor. For the fiscal year ending May 2013, the football club owned by Fernandes reported a very uncomforting £65.4 million ($110.16 million) loss.
Further or more official info on the subject isn't available yet, but whatever happens to the Caterham Group, us declared petrolheads hope that the sports car manufacturer won't call it quits as well. After all, we still want to see the production version of the AeroSeven Concept and it would be a shame if yet another British marque disappears from the international sports car scene.
So why this change of heart? Well, this action may have something to do with Fernandes' January warning that he would stop funding the Caterham F1 Team if results wouldn't improve in the near future.
After six races in the 2014 season, Caterham F1 still holds bottom place in the constructors championship. And truth be told, Caterham F1 Team never managed to impress since the team was acquired by Fernandes from venture capitalist group Corven a few years ago.
Couple that with the Queens Park Rangers FC's mounting financial problems and you get a glimpse of the full picture behind this rumor. For the fiscal year ending May 2013, the football club owned by Fernandes reported a very uncomforting £65.4 million ($110.16 million) loss.
Further or more official info on the subject isn't available yet, but whatever happens to the Caterham Group, us declared petrolheads hope that the sports car manufacturer won't call it quits as well. After all, we still want to see the production version of the AeroSeven Concept and it would be a shame if yet another British marque disappears from the international sports car scene.
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