Malaysia`s Fernandes sells Caterham

Last Updated: Wednesday, July 2, 2014 - 20:38

London: Malaysian businessman Tony Fernandes has sold the British-based Caterham Formula One team to a consortium of Swiss and Middle Eastern investors, it was announced Wednesday.

"Caterham F1 Team is pleased to confirm that Tony Fernandes and his partners have sold the team to a consortium of Swiss and Middle Eastern investors, advised by former F1 Team Principal Colin Kolles," said a team statement.

In May, Fernandes the owner of budget airline AirAsia and London football club Queens Park Rangers, who next season will be back in the lucrative English Premier League, said in May he wasn`t looking to sell Caterham but was keen to attract additional investment.

AFP

First Published: Wednesday, July 2, 2014 - 20:38

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