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Caterham F1 sale officially confirmed

Jul 2, 2014, 10:16 AM EDT

Caterham Getty Images

Following a couple weeks of speculation, the sale of the Caterham F1 Team has been confirmed on Wednesday. The team’s base in Leafield and name of Caterham F1 Team will stay for what the team termed “the foreseeable future.”

Colin Kolles is back in the game and will head up the group of Swiss and Middle Eastern investors, taking over from Tony Fernandes and his partners at the top of the organization. According to veteran F1 scribe Adam Cooper, Kolles will be a Caterham consultant.

Kolles’ F1 history includes stints with the team now known as Force India, previously known as Jordan, Midland, MF1 and Spyker. He also was involved with the HRT team during its stint.

Additionally, former Minardi Formula One driver Christijan Albers and Manfredi Ravetto will take over day-to-day operations of the race team.

Said Albers in a statement, “We are aware of the huge challenge ahead of us given the fight at the bottom end of the Championship and our target now is to aim for tenth place in the 2014 Championship. We are very committed to the future of the team and we will ensure that the team has the necessary resources to develop and grow and achieve everything it is capable of.”

Albers and Kolles have been linked for several years both in F1 and in sports car racing. Albers drove for Spyker in 2007, when Kolles was the team principal. Once Kolles moved to Le Mans, the Dutchman raced an Audi R10 TDI in Le Mans.

Albers is also set to drive the Lotus P1/01 AER in the FIA World Endurance Championship for several races later this year (the Lotus is not affiliated with Caterham, because the Caterham/Lotus/Lotus history is already confusing enough as it is). Kolles had been involved in a Lotus LMP2 project last year.

Meanwhile, Cyril Abiteboul has left the team to pursue other opportunities.

No mention was made of changing the team’s driver lineup, with Kamui Kobayashi and Marcus Ericsson competing this year and a deep pipeline of test drivers that include Alexander Rossi, Rio Haryanto and Will Stevens, with the latter two scheduled to test in Silverstone next week.

  1. techmeister1 - Jul 2, 2014 at 10:54 AM

    It should be interesting to see if new management can produce better results or if this is just a black hole to pour money into?

    • testover6370 - Jul 2, 2014 at 11:14 AM

      I think the names mentioned speak for themselves as to how this will go. But hey at least the name and the team will be on the grid for a little while longer.

      I feel like this would have made the most sense for Haas to buy into. He wants an American driver and they have an American test driver already.

      • worknman24hours - Jul 3, 2014 at 11:03 AM

        Also,everything is in place.

        Caterham simply needs more money and more smart people to get better equipment into the field of play.

        And in the worst case department,if things go south,Haas can sell it to another investor as long he consistently builds the team as he owns it.

        I don’t know what he would name it though.

        Maybe Haas could bring on a new major power unit manufacturer to produce the powerplants and sell them the naming rights.

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