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Caterham F1 sold


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#1 DinocoBlue

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Posted 27 May 2014 - 19:52

Press release from Caterham Group

 

Despite press rumours to the contrary, Caterham Group is not for sale.

 

The reports circulating this weekend are factually incorrect.

 

It is, however, true that the Group is actively searching for additional investment as it seeks to fulfil ambitious plans to develop.

 

The shareholders of the Group, co-Chairmen Tony Fernandes and Datuk Kamarudin Meranun, remain wholly committed to the Caterham brand.

 

Fernandes confirmed: "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."

 

 

http://www.caterhamf...group-statement



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#2 Wiggy

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Posted 27 May 2014 - 20:00

The 'group' isn't for sale wholly, but 'investment' means selling percentages of it off.

'Challenging ourselves and making decisions on group projects' is obviously a thinly guised reference to the F1 team which is a failure as a 'project' aimed at improving the image and sales of the Caterham vehicles! The F1 team IS for sale, the group (car manufacturing) isn't but will be divided up for 'investors'

No point in making it look like publicly there is a reason to dump the whole thing, why would anyone jump in if it looked like a sinking ship?!

#3 Jezick67

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Posted 28 May 2014 - 01:53

Press release from Caterham Group

 
http://www.caterhamf...group-statement


How many companies are in the group.. LOL

Composites... Keep that, money maker
Cars... Who knows? Looks like same old same old.
Technology... Dead as a Dodo since Alpine project died.
F1... See ya
How many others are there??

What has Mike Gascoyne actually achieved? The amount of money this bloke has earned, especially from Toyota, is unreal and his CV is devoid of anything creditable despite the PR Crap?

#4 Red17

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Posted 28 May 2014 - 17:26

The 'group' isn't for sale wholly, but 'investment' means selling percentages of it off.

'Challenging ourselves and making decisions on group projects' is obviously a thinly guised reference to the F1 team which is a failure as a 'project' aimed at improving the image and sales of the Caterham vehicles! The F1 team IS for sale, the group (car manufacturing) isn't but will be divided up for 'investors'

No point in making it look like publicly there is a reason to dump the whole thing, why would anyone jump in if it looked like a sinking ship?!

 

I guess the mandatory "We deny any sale" statement was getting overdue, the sale rumour has been brewing for some time and after Monaco there was no turning back. If anything, the statement does confirm that they are looking for people.



#5 Ze Bum

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Posted 11 June 2014 - 21:18

Speedweek speculates that Caterham may run out of money and not even compete in Austria.

 

Caterham car and bike business going very badly. Air Asia also in troubles. :well:

 

Forza Rossa may be interested in bying the team.

 

 

http://www.speedweek...am-am-Ende.html



#6 4MEN

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Posted 11 June 2014 - 22:04

430 million €? :rotfl:  



#7 Owen

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Posted 11 June 2014 - 22:10

@PFF1: #F1 Latest rumour is that it's the end of the road for Caterham F1 with immediate effect. Not racing in Austria. http://t.co/tF5vqq7X24

#8 Rjpscr

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Posted 11 June 2014 - 22:18

@PFF1: #F1 Latest rumour is that it's the end of the road for Caterham F1 with immediate effect. Not racing in Austria. http://t.co/tF5vqq7X24

Interesting, surprising if its true that they will stop with immediate effect and not just finish out the year but with Marussia scoring points  I think they just lost hope. It sucks we might lose a team but it wont be much of a difference anyways there never on TV so we never see theme on track anyways.



#9 ATM

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Posted 11 June 2014 - 22:27

Aren't they confined to some contract with Bernie, which would imply penalty fees for no-show? after all, even HRT tried (and managed) to finish the season and folded the day after Brazil. 

And besides, if they really want to throw the team's value away, this would be a sure way to do it. Selling a functional team to an investor for next year is one thing, but selling the scraps of a team which failed to run 12 races in the previous season...who would buy that? 



#10 Disgrace

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Posted 11 June 2014 - 22:49

@PFF1: #F1 Latest rumour is that it's the end of the road for Caterham F1 with immediate effect. Not racing in Austria. http://t.co/tF5vqq7X24

 

How is the credibility of this Twitter page? It would have been better to link to the source the page links to (albeit in German).


Edited by Disgrace, 11 June 2014 - 22:49.


#11 nuripoko

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Posted 27 June 2014 - 07:56

New owners at Caterham F1 as Fernandes prepares for exit

A change of ownership of the Caterham F1 team is expected to be announced in the coming days, as suggested in my recent story on the future of Red

Bull and Renault’s Viry engine base.

 

 

 

http://adamcooperf1....pares-for-exit/


Edited by SophieB, 27 June 2014 - 10:22.
Please do not paste whole articles.


#12 SenorSjon

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Posted 27 June 2014 - 08:47

Rumour has it that MP Motorsports (GP2) bought the outfit.



#13 johnwilliamdavies

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Posted 27 June 2014 - 09:42

And like that, he's gone.



#14 Wiggy

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Posted 27 June 2014 - 10:32

Tony Fernandes having a 'No, you hang up' moment on twitter this morning with lots of ramblings, and then said 'F1 hasn't worked' and closed his account. Twittersphere is filled with the rumours/news that it has now been sold and new owners will be announced today.

#15 Wiggy

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Posted 27 June 2014 - 10:34

Wonder how watertight the sponsorship agreements with Fernandez companies are... Can he pull the plug on the sponsorship monies?

#16 Ferrari_F1_fan_2001

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Posted 27 June 2014 - 10:40

If he is having a rant, it isn't the best way to offload the product you are trying to sell. Won't do potential investors confidence much good!



#17 Slackbladder

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Posted 27 June 2014 - 10:40

Ultimately the 'new' teams were brought into F1 on the basis of promises that haven't been met, so I'm sympathetic to TF, but they haven't, for whatever reason been able to make any mark on the race whatsoever.



#18 krapmeister

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Posted 27 June 2014 - 10:42

Caterham have been for me the most disappointing team on the grid. I just hope that if it has been sold, it will be sold to someone that has the will and the finances to be in the sport for the long haul...

#19 Exb

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Posted 27 June 2014 - 10:46

From the Caterham thread...

 

Rumour has it that MP Motorsports (GP2) bought the outfit.



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#20 chunder27

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Posted 27 June 2014 - 10:49

I would hate to think how much money the bloke has spent on being an embarassment in F1.

 

he started out well with experienced drivers and stuff, and seemed to be heading inthe right direction, but let's be honest the last two years ahve been pathetic.

 

I do not think anyone can really understadn how tricky it is until you ahve tried it, but that car, my word it looks truly hideous!



#21 Clatter

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Posted 27 June 2014 - 10:53

So have they actually been sold or is this just a rumour and the title mis-leading?



#22 BRG

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Posted 27 June 2014 - 10:58

Ah, how I look back fondly to those days of the debate about true/false Lotus and how so many people praised Fernandes and claimed he was going to be in F1 for ever because he was so devoted to it, heart and soul.  And then how he was going to transform Caterham Cars with the tie-up with Alpine and Renault, and build road cars and Le Mans cars , blah, blah, blah.

 

And that he was not a cynical carpetbagger trying to acquire Lotus Cars on the cheap.  No, no, not at all.   :well:


Edited by BRG, 27 June 2014 - 11:07.


#23 pacificquay

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Posted 27 June 2014 - 10:58

It's not a rumour. Adam Cooper has written about it.



#24 Slackbladder

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Posted 27 June 2014 - 11:02

Seems a very strange way of doing it, if it is being sold. I though there would have been PR and positive spin all over it if a new buyer was coming in, rather than a 'Screw you guys' from TF.

 

I wouldn't be suprised if Caterham don't run in any way shape or form at Silverstone.



#25 BRG

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Posted 27 June 2014 - 11:10

And like that, he's gone.

Good, Don't let the door hit on the arse on your way out, Tony.



#26 Fastcake

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Posted 27 June 2014 - 11:11

Ah, how I look back fondly to those days of the debate about true/false Lotus and how so many people praised Fernandes and claimed he was going to be in F1 for ever because he was so devoted to it, heart and soul. And then how he was going to transform Caterham Cars with the tie-up with Alpine and Renault, and build road cars and Le Mans cars , blah, blah, blah.

And that he was not a cynical carpetbagger trying to acquire Lotus Cars on the cheap. No, no, not at all. :well:


Well, Caterham's probably better off than Lotus Cars are nowadays. Who knows if anything would of been different if Fernandes got his way.

#27 SophieB

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Posted 27 June 2014 - 11:16

The Adam Cooper link mentioned;

 

Caterham F1 will have new owners and management as @tonyfernandes prepares to bow out: http://adamcooperf1.com/2014/06/27/new-owners-at-caterham-f1-as-fernandes-prepares-for-exit/ 

 

Tony Fernandes dropped a clear hint about a change of ownership today when in closing his Twitter account he said, “F1 hasn’t worked love Caterham Cars.”

 

 

It’s believed that the new deal involves only the F1 team, and not the GP2 outfit. The identity of the purchaser is not yet known, but it is not connected to either of the new F1 projects from the USA and Romania.

 



#28 mechadaniel

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Posted 27 June 2014 - 11:23

Tony Fernandes having a 'No, you hang up' moment on twitter this morning.

 

He said repeatedly that he was going to quit twitter when QPR got promotion - nothing to do with F1, the football related abuse/banter he gets drowns everything else out.



#29 Owen

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Posted 27 June 2014 - 11:35

Crumbs. Rumour mill in full flow over Caterham today. Usually impeccable source reckons it's about to be bought by a very familiar name.

All I'll say is that, if true, I don't imagine they'll be getting their hands on Mercedes engines anytime soon.

@willbuxton

 

Return of Brawn anyone?



#30 Slackbladder

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Posted 27 June 2014 - 11:37

Crumbs. Rumour mill in full flow over Caterham today. Usually impeccable source reckons it's about to be bought by a very familiar name.

All I'll say is that, if true, I don't imagine they'll be getting their hands on Mercedes engines anytime soon.

@willbuxton

 

Return of Brawn anyone?

 

Eddie? (as the source maybe...although him back in the sport as a competitor would be hilarious!!!)


Edited by Slackbladder, 27 June 2014 - 11:38.


#31 JHSingo

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Posted 27 June 2014 - 11:40

I have lost respect for Tony if that's the case. He's never struck me as a 'racer' - more a business guy. I mean, look at Marussia, they've had an equally tough time of it since 2010. But John Booth and co have stuck with the project, and now have their first points on the board. Hopefully the new owner will be someone with a bit more dedication and who isn't just looking at the numbers.



#32 Dolph

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Posted 27 June 2014 - 11:46

I have lost respect for Tony if that's the case. He's never struck me as a 'racer' - more a business guy. I mean, look at Marussia, they've had an equally tough time of it since 2010. But John Booth and co have stuck with the project, and now have their first points on the board. Hopefully the new owner will be someone with a bit more dedication and who isn't just looking at the numbers.

 

He has spent five years trying to make the team score a top ten spot. They've failed. 5 years! Time to let someone else have a go. Nothing wrong with that.



#33 P123

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Posted 27 June 2014 - 11:48

Crumbs. Rumour mill in full flow over Caterham today. Usually impeccable source reckons it's about to be bought by a very familiar name.

All I'll say is that, if true, I don't imagine they'll be getting their hands on Mercedes engines anytime soon.

@willbuxton

 

Return of Brawn anyone?

 

I don't think that relationship was broken enough for Merc to deny him engines.



#34 muramasa

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Posted 27 June 2014 - 11:49

familiar name?

 

Proton? Whitmarsh?



#35 Owen

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Posted 27 June 2014 - 11:54

familiar name?

 

Proton? Whitmarsh?

McLaren?  :drunk:



#36 Francesc

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Posted 27 June 2014 - 11:54

David Richards??



#37 JHSingo

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Posted 27 June 2014 - 11:55

He has spent five years trying to make the team score a top ten spot. They've failed. 5 years! Time to let someone else have a go. Nothing wrong with that.

 

How long did it take Red Bull to turn from a mid-pack runner to a championship contender? It certainly wasn't the work of a moment.

 

In some ways though, I do have sympathy for the team. Both Marussia and Catherham entered at a time when they believed there would be a budget cap. When there wasn't, they were immediately on the back foot.



#38 scheivlak

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Posted 27 June 2014 - 11:57

Danny Bahar?  :D



#39 taran

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Posted 27 June 2014 - 11:59

Good, Don't let the door hit on the arse on your way out, Tony.

 

Don't get you BRG. This guy spent his own money to create a team, got Lotus Classic endorsment before Clive turned coward and had big plans which he tried very hard to accomplish. All under promises made by the FIA which were never kept. Sure, he failed but he gave multiple new drivers a chance, prolonged the careers of others and provided jobs for a complete team. And that without building a mountain of debt. Can't blame him for throwing in the towel now that success seems unlikely with the deck permanently stacked against the little teams.



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#40 FrAnC1s96

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Posted 27 June 2014 - 12:13

I thought it could be Colin Kolles buying the team, because i think he fell out with Mercedes when he was running Force India as he was quite often behind on payments.


Edited by FrAnC1s96, 27 June 2014 - 12:13.


#41 Ross Stonefeld

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Posted 27 June 2014 - 12:13

Good, Don't let the door hit on the arse on your way out, Tony.

 

Fernandes came in and made an effort, a lot of it with his/the group's own money. It's better than all the talkers and time wasters and I have sympathy for him because F1 seems to go out of its way to make life difficult for everyone. 



#42 krapmeister

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Posted 27 June 2014 - 12:14

Crumbs. Rumour mill in full flow over Caterham today. Usually impeccable source reckons it's about to be bought by a very familiar name.
All I'll say is that, if true, I don't imagine they'll be getting their hands on Mercedes engines anytime soon.
@willbuxton
 
Return of Brawn anyone?


Don't tell me Dieter Mateschitz has gone and bought another F1 team...

Edited by krapmeister, 27 June 2014 - 12:15.


#43 Slackbladder

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Posted 27 June 2014 - 12:25

Don't tell me Dieter Mateschitz has gone and bought another F1 team...

 

2 more easy passes for Vettel and Co in the race? :)



#44 string158

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Posted 27 June 2014 - 12:36

Mclaren / Honda to run it as a B team.  Whitmarsh Racing?  :stoned:



#45 FerrariV12

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Posted 27 June 2014 - 12:50

Renault returning as a works team (although buying back Enstone would make more sense I suppose if they could and wanted to return in that capacity)? Would certainly preclude them running Mercs or any other engine than their own, obviously.



#46 noikeee

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Posted 27 June 2014 - 12:54

How long did it take Red Bull to turn from a mid-pack runner to a championship contender? It certainly wasn't the work of a moment.

 

Actually, given that they bought Jaguar in late 2004 (?) and started challenging for the title in 2009, it was exactly 5 years just like the time between when Fernandes showed up and now.  :p



#47 Brother Fox

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Posted 27 June 2014 - 12:58

Craig Pollock??

#48 4MEN

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Posted 27 June 2014 - 13:01

This must be the most stupid OP ever. 

"Caterham F1 sold"

"Caterham is not for sale"



#49 HistoryFan

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Posted 27 June 2014 - 13:03

Rumour has it that MP Motorsports (GP2) bought the outfit.

 

Can't imagine that. They work together with Manor (Marussia) and they help the new FA1 World Series...
 



#50 shonguiz

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Posted 27 June 2014 - 13:41

I am sick of f1 extremists that are so prone to condemn people. Wtf was the guy supposed to do ? Put all his money and sink the whole group ? How stupid to compare him with red bull owner