Search

QPR owner Tony Fernandes set to bail out of owning Caterham Formula One team

10:29 28 June 2014

Tony Fernandes. (Photo by Mark Thompson/Getty Images)

Tony Fernandes. (Photo by Mark Thompson/Getty Images)

2011 Getty Images

Tony Fernandes has dropped a broad hint he is prepared to bail out of Formula One team Caterham.

It is understood that Fernandes has already sold the F1 arm of his operation, ending a difficult four-and-half-year journey.

Although no details have officially been announced, in finally opting to close his account on Twitter on Friday, Fernandes said: “F1 hasn’t worked. Love Caterham cars.”

Fernandes made clear at the start of the season, at the announcement of his driver line-up car for this year in January at Caterham’s Leafield base, he was threatening to pull the plug.

Via a demoralising outburst, Fernandes said: “My message to the 250 people here (at the factory) is we have to go for it this year. This is it - the final chance.

“We’ve given you the best infrastructure, the best potential drivers, but it is now down to all of you to go and do it.

“If we’re at the back I don’t think I’m going to carry on.

“Nothing is set in stone, but after five years with no points there is a limit to one’s patience, money, motivation, etcetera, so it’s an important year.”

Fernandes’ hopes have hit the buffers, however, with Caterham falling further behind back-of-the-grid rival Marussia, who ended their points drought in Monaco this year.

Caterham, meanwhile, have gone 85 races since their arrival in F1 in 2010 without collecting a single point, and now Fernandes has had enough.

The Malaysian entrepreneur, owner of Premier League side QPR and budget airline AirAsia, has not uttered a single word on Caterham this season since his day at the factory, nor has he attended a race.

Rumours have been rife about Caterham’s future for months, notably after Fernandes issued a statement at the end of May insisting Caterham Group was not for sale.

That did not preclude an independent sale of the F1 team, with a deal now believed to have been concluded with an unnamed party. An announcement is likely in the coming days.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Kilburn Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Kilburn Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Kilburn Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Latest Sport Stories

Yesterday, 16:47
Scott Shulton (left) in action for Hendon during manager Gary McCann's testimonial match against a QPR XI at Earlsmead. Pic: Refuel Performance Management

Gary McCann was hailed as “the best man-manager around” following his thrilling testimonial against a QPR XI last night.

Yesterday, 12:25
James Franklin

It seems to be that time of the season when counties are trying to take some pressure off their main venues, and that gives us the chance to play at a few outgrounds.

Mon, 14:35
Vishal Bhimjiyani struck an unbeaten half-century for South Hampstead. Pic: Max Flego

Title contenders South Hampstead were frustrated in their quest for victory and had to settle for a winning draw for the second weekend in a row – this time against basement boys North London.

Mon, 07:00
Hendon boss Gary McCann. Pic: Andrew Aleksiejczuk

Hendon boss Gary McCann will celebrate 10 years in charge of Hendon with a testimonial match against a QPR XI tomorrow evening – and he will be disappointed if his team fail to beat the Rs.

Most read sport

Competitions

Get your hands on some fresh trainers!

Need some new shoes to head to work or some new heels for a night on the cobbles? London24 has teamed up with online retailer Sole Trader to offer £100 worth of shoes to one lucky reader.

Take in the stunning sites of London from the summit of the O2!

Up at The O2 has teamed up with London24 to give one lucky reader the chance to experience urban mountaineering this summer with an exhilarating 90-minute climb across the roof of one of London’s most iconic landmarks.

Digital Edition

Image
Read the Brent & Kilburn Times e-edition today E-edition
Family Notices 24


Our trusted business finder