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Tony Fernandes Confirms Caterham Is Not For Sale

Shareholders of the Leafield, Norfolk-based Caterham Group confirmed today that despite recent press rumors to the contrary, the company is not for sale.
Caterham SuperSport R 1 photo
Photo: Caterham
Even though a Malaysian publication revealed a little while back that Tony Fernandes intends to sell Caterham for £350 million ($589 million at current exchange rates), the British firm annouced that the both the sports car maker and Formula 1 team are just looking for additional investment for further development.

Remaining wholly comitted to the Group, co-chairmen Tony Fernandes and Datuk Kamarudin Meranun revealed they're actively searching for new investors that believe the Caterham F1 Team and sports car brand can be taken to new heights through capital infusion.

Fernandes declared that “the Caterham Group is not for sale. We love what we build and we are always looking for further investment. This is no different to how we started 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.”

However, the British entrepreneur that also owns the Queens Park Rangers Football Club didn't declare anything about the less than satisfactory results in Formula 1. Since it entered the competition, the Malaysian-owned Caterham F1 Team competed in 45 Grand Prix races without a single constructors' or drivers' championship point.

Fingers crossed Tony will get new investors passionate about mass producing the brilliant AeroSeven Concept.
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About the author: Mircea Panait
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After a 1:43 scale model of a Ferrari 250 GTO sparked Mircea's interest for cars when he was a kid, an early internship at Top Gear sealed his career path. He's most interested in muscle cars and American trucks, but he takes a passing interest in quirky kei cars as well.
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