Fernandes: Caterham not for sale

Wednesday 28-May-2014 09:55

Caterham owner Tony Fernandes has dismissed claims that the Formula One team's parent company is for sale.

Speculation is rife in Malaysia that the Caterham Group has been put up for sale following Fernandes' pre-season threat that he would stop funding its exploits if its on-track performances don't improve.

Although Caterham recorded one of its best results to date in Monaco last week when Ericsson finishing 11th, that achievement was surpassed by the rival Marussia outfit which claimed its first ever Championship points when Jules Bianchi finished in ninth.

A Caterham statement, though, rubbished those claims and reiterated that Group chairmen Fernandes and Datuk Kamarudin Meranun "remain wholly committed to the Caterham brand".

Fernandes added: "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 [Fernandes's airline business].

"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."

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