Caterham could be sold for $589 million, report says

Article by Christian A., on May 26, 2014

Things are not going quite well for the Caterham Group as a new report from Malaysia suggests that Tony Fernandes is looking for a buyer for the Caterham Group of motorsport. For those who don’t know, Tony Fernandes is a Malaysian-British entrepreneur and the founder of the Caterham Formula One team as well as the man who purchased Caterham Cars back in April 2011.

According to Malaysian business journal The Edge, Fernandes is asking $589 million for the entire Caterham Group which includes Caterham Cars, Caterham Formula 1 team, Caterham Technology and Innovation, as well as Caterham Composites.

Back in January, Fernandes said that he will stop funding the F1 team if the performances will not improve. The F1 team is not doing so great as it failed to win any point in the F1 championship in 2012 and 2013.

Moreover, it seems that a possible reason could also be the cancelation of collaboration with Renault on the upcoming Alpine brand by Renault and the production of the Caterham AeroSeven Concept.

According to Bloomberg, Tony Fernandes did not responded to any phone call, text message or email regarding this issue. [source: worldcarfans]

Topics: caterham

If you liked the article, share on:

Comments

Recommended

An RHD (right hand drive) BMW M4 DTM Champion Edition has been listed to be for sale by Romans International, UK’s leading supercar dealership. The first owner of this rare...
by - May 24, 2017
Audi will be offering something exciting for its United Kingdom market. The company announced that it will be adding new features as standard to the A4 range. It also confirmed...
by - May 24, 2017
You guys are probably aware of the collaboration between Mercedes-Benz and Renault-Nissan. Knowing this, you would expect that both companies will come up with something impressive. Sources say that the...
by - May 24, 2017
Amongst all sports cars on the planet, which one is the world’s best-selling model? Would you have guessed that it is the Ford Mustang? According to IHS Markit’s global automotive...
by - May 24, 2017
It’s not a bird. It’s not a plane. It’s Kris Singh’s blue carbon flying machine! Time stood still for a few minutes after the extremely rare Pagani Huayra BC Macchina...
by - May 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries