Caterham announce new owners

Caterham confirm that owner Tony Fernandes has sold the Formula 1 team to a consortium of Swiss and Middle Eastern investors.

Caterham have announced that owner Tony Fernandes has sold the Formula 1 team to a consortium of Swiss and Middle Eastern investors.

Fernandes claimed at the start of the season that he would sever his ties with the team unless they improved on the track.

However, a poor campaign so far in 2014 has seen the Malaysian businessman leave the Oxfordshire-based outfit.

The new ownership structure will take charge with immediate effect.

"Under the terms of the sale, the team will continue to race as Caterham F1 Team and will remain based at Leafield for the foreseeable future," read an official statement.

The Formula 1 season continues this weekend with the British Grand Prix.

Queens Park Rangers' Malaysian chairman Tony Fernandes taken on December 15, 2012
Read Next:
Fernandes eyes "four or five" signings
>
You May Like
Recomended from Sports Mole

Loading ...

Failed to load data.

Login, I already have my ad-free pass
Log in with Facebook to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account