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]

If you liked the article, share on:

Topics: caterham

Comments

Recommended

If you see the Aston Martin’s 2018 Vantage, you would think that it is significantly different from most of Aston’s GT lineup. For instance, if the DB11 is a fine...
by - November 24, 2017
Even as Chevrolet is making a huge splash in the industry with the recent launch of the new Corvette ZR1, there may be trouble brewing. Chevrolet has announced huge discounts...
by - November 24, 2017
The 2018 GMC Sierra 2500HD has arrived this week at the snowy mountains in Colorado for its winter long debut. GMC’s tracked Sierra Mountain Concept will be on display at...
by - November 24, 2017
We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
The other day, it was confirmed that Volvo will finally bring the XC40 to US soil, where it will first make an appearance at the 2017 Los Angeles Auto Show....
by - November 23, 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