Skip to content

Caterham owner dismisses sale rumors

May 24, 2013, 4:30 PM EDT

AUTO-PRIX-F1-MONACO-MCO-PRACTICE Getty Images

Caterham F1 Team owner Tony Fernandes has spoken out to silence rumors that he may be set to sell the team after it has failed to meet his expectations.

Although the tycoon did admit that he expected Caterham to be running in the midfield by now, he believes that the team has come too far to simply walk away.

“We went in with our eyes wide open and we are too far down the line with Caterham so, no, I will not be leaving,”  Fernandes told Sky Sports. “It’s not about winning the world championship for me, it’s about building a car, which has always been my dream and that’s progressing quite well.”

The team has beaten closest-rivals Marussia in all three of its active seasons, but the tables may have turned in 2013 as the Anglo-Russian team currently sits P10 in the constructors’ championship. However, with Charles Pic and Giedo van der Garde impressing of late for Caterham, they could be set to re-claim this position in Monaco this weekend. Fernandes is pleased with the progress that the team has made, and he is keen on it continuing in the coming years, even if they are not meeting his early expectations.

“If we had just continued on our normal path we probably would have been in the midfield by now, so we’ve learned the hard way. But on the business side it’s done everything I wanted it to.

“I also think we’ve the right people now, but would I say we are 100 per cent where we want to be? No. We’ve a nice facility in Leafield and we’re going in the right direction.”

Fernandes refused to make too wild a claim and set his sights on a world championship any time soon, but he is hopeful that Caterham could yet score some points in the next season or two.

“I’m not saying we are going to be world champions any time soon, but I do believe if we continue this way then we have a good chance of progressing.”

Latest Posts
  1. Patron ESM heads to Paul Ricard (VIDEO)

    Mar 31, 2015, 1:52 PM EDT

    Photo: Extreme Speed Motorsports Photo: Extreme Speed Motorsports

    ESM recaps its test from the Prologue at Paul Ricard.

  2. IMS releases statement in wake of Indiana RFRA legislation

    Mar 31, 2015, 12:47 PM EDT

    IMS Pagoda Getty Images

    IMS statement comes out after Indiana’s recent religious freedom legislation.

  3. IndyCar notes: Rahal’s questionable penalty, one-off drivers, rookies have tough days

    Mar 31, 2015, 11:15 AM EDT

    KimballRahal AP

    Catching up on the rest of the action from St. Petersburg, with a run through the moments of contact that triggered avoidable contact penalties.

  4. The Rolling Stones to hit IMS on July 4

    Mar 31, 2015, 10:11 AM EDT

    StonesIMS

    Rolling Stones to play at the Indianapolis Motor Speedway.

  5. Spectator injured but in stable condition after being hit by debris at St. Pete race

    Mar 31, 2015, 9:33 AM EDT

    StpDebris AP

    Loose debris hit by a car, then goes over wall and hits a fan outside Turn 10 at St. Petersburg.

  6. Hawksworth, Filippi score solid top-10s to open season at St. Petersburg

    Mar 30, 2015, 4:00 PM EDT

    HawkStp15 AP

    Hawksworth, Filippi impress on opening outings with their new teams in St. Petersburg.

  7. Experience trumps youth on IndyCar’s opening weekend with aero kits

    Mar 30, 2015, 3:15 PM EDT

    JPMSTPwin AP

    IndyCar’s “old guard” reigned in St. Petersburg, as the new manufacturer aero kits debuted.

  8. Moto GP: Rossi wins opening-round thriller in Qatar

    Mar 30, 2015, 2:30 PM EDT

    MotoGP Qatar Getty Images

    Victory number 70 of the Italian’s remarkable Moto GP career.

  9. Ecclestone considering creation of all-female grand prix series

    Mar 30, 2015, 1:35 PM EDT

    F1 Grand Prix of Malaysia - Practice Getty Images

    However, Williams test driver Susie Wolff believes that women should be reaching F1 in a more organic way.

  10. IndyCar: Bourdais opens strong for KVSH; Coletti impresses despite late stop for KV

    Mar 30, 2015, 12:00 PM EDT

    SebStp AP

    KVSH’s Bourdais gets result after a consistent drive; KV’s Coletti stars but fades after late race splash-and-dash for fuel.

  11. St. Petersburg notes: Alberico, Eidson, Beretta, Jenner score Sunday wins

    Mar 30, 2015, 11:00 AM EDT

    Photo: Pro Mazda Photo: Pro Mazda

    Pro Mazda, USF2000, Pirelli World Challenge, SST roundup from St. Petersburg.

  12. Chevrolet teams dominate IndyCar’s season opener, new aero kit era

    Mar 30, 2015, 10:00 AM EDT

    ChevySTPdomination AP

    Chevrolet aero kits dominate on debut at St. Petersburg.

  13. Ericsson frustrated to spin out early in Malaysia

    Mar 30, 2015, 9:30 AM EDT

    Marcus Ericsson AP

    Swedish driver was fighting in the points before spinning off into the gravel on lap three in Malaysia.

  14. Wolff surprised by Ferrari win, but defends Mercedes strategy calls

    Mar 30, 2015, 8:00 AM EDT

    Australian F1 Grand Prix - Previews Getty Images

    Wolff defends the decision to fit Lewis Hamilton with hard tires at his final pit stop.

  15. NHRA: Jack Beckman (54 races), Larry Morgan (120 races) snap lengthy winless streaks in 4-Wide Nationals

    Mar 29, 2015, 10:00 PM EDT

    nhra four-wide nationals

    Jack Beckman (Funny Car) and Larry Morgan (Pro Stock) broke lengthy winless streaks in Sunday’s finals of the 4-Wide Nationals in Concord, N.C.

  16. Montoya’s evolution evident after statement victory in St. Pete

    Mar 29, 2015, 8:40 PM EDT

    JPMSTPwin2 AP

    The year-on-year evolution of JPM showcases a driver still getting even better.

  17. Jeans and Ice Cream: Will Power’s brother live tweets IndyCar season opener

    Mar 29, 2015, 8:15 PM EDT

    Will Power, Will Power,

    Will Power’s brother brings the jokes while live tweeting Grand Prix of St. Petersburg.

  18. Power dominates another St. Pete race from pole, but reflective post-race

    Mar 29, 2015, 7:53 PM EDT

    WillSTPwin AP

    Close but no cigar, but still a very good day for Will Power in the IndyCar opener at St. Petersburg.

  19. IndyCar: Tony Kanaan breaks up Penske’s quartet with third place finish

    Mar 29, 2015, 7:27 PM EDT

    Tony Kanaan Tony Kanaan

    Tony Kanaan earns second podium in a row while thwarting potential sweep by Penske.

  20. Montoya ekes out win in St. Petersburg season opener

    Mar 29, 2015, 5:57 PM EDT

    JPMSTPwin AP

    Juan Pablo Montoya emerges up front after beating teammate Will Power on pit stops, and then holds off a final challenge.