Caterham Group deny sale reports

Caterham Group deny sale reports

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Queens Park Rangers chairman Tony Fernandes, co-chairman of Caterham, was said to be eager to cash in on the team which is still yet to secure a solitary point in F1.

QPR secured an immediate return to to the Premier League on Saturday by beating Derby County in the Championship play-off final at Wembley, but the London club are facing the prospect of a heavy fine for breaching Financial Fair Play rules.

The Caterham Group have confirmed that they are seeking additional investment, but rubbished claims that Fernandes wants out and also confirmed that co-chairman Datuk Kamarudin Meranun remains committed to the team.

A statement released by the team on Tuesday said: “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 added: “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.”

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