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

Just a month ago, Wolfgang Durheimer, the former president of Bugatti, was removed from the company so he could replace Stephan Winkelmann, former Lamborghini CEO and Audi Sport boss as...
by - September 23, 2017
BMW will be launching a new Competition Package especially for the M5’s 2018 model year. While in Frankfurt, Andy Cook, BMW’s product exec has talked with Motor 1 regarding some...
by - September 22, 2017
BMW’s pure M and M-performance are currently being offered with six- and eight-cylinder turbocharged engines. But while German premium rival Mercedes-Benz offers – through its AMG division – a line...
by - September 22, 2017
In a recent report by Automotive News, we learned that FCA is no longer pursuing its original plans in using Alfa Romeo’s Giorgio architecture on both the Dodge Charger and...
by - September 22, 2017
Volvo Cars is proving that it is serious in its intention to grab a good piece of the global market for premium sports utility vehicles. While its XC60 and the...
by - September 22, 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