Caterham bosses to quit over Tony Fernandes legal row?

Caterham's future in Formula 1 is thrown into further doubt after the team current management threatens to walk away.

Caterham's owners have threatened to withdraw their support for the team and have hinted at possible legal action against former owner Tony Fernandes.

Fernandes, who owns Premier League side Queens Park Rangers, had agreed to sell the Formula 1 backmarkers to a consortium in July.

However, the Leafield-based constructor's future appears to be in limbo, with suggestions from the current management that they have financed the day-to-day running without having the switch of ownership ratified legally.

Their statement read: "Since the date of the agreement, the seller has refused to comply with its legal obligations to transfer their shares to the buyer. The buyer has been left in the invidious position of funding the team without having legal title to the team it had bought.

"After three months of operating the Caterham F1 Team in good faith, the Buyer is now forced to explore all its options including the withdrawal of its management team. Lawyers have been instructed by the buyer to bring all necessary claims against all parties, including Mr Fernandes who, as an owner, will run the F1 operation."

Caterham are one of two teams yet to score a point this season.

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Harry Redknapp, manager of QPR looks on during the Barclays Premier League match between Queens Park Rangers and Stoke City at Loftus Road on September 20, 2014
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