Formula 1 News

Caterham not leaving Formula 1

Team owner Tony Fernandes keeps battling speculation about the future of green cars.
Sunday, June 15, 2014

June14, 2014 (GMM).- From either end of the F1 grid, teams ended the working week by sending out very different signals about their respective futures.

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At the back of the grid, struggling Caterham's supremo Tony Fernandes batted off speculation his green cars might be missing in Austria next weekend.

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"Caterham F1 will be racing in Austria. There is no question," the Malaysian aviation entrepreneur told his almost 1 million Twitter followers.

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Actually, a couple of weeks ago, team owner Tony Fernandes - who has been notably absent from the F1 paddock in 2014 - denied reports he has put the team up for sale.

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"It is, however, true that the group is actively searching for additional investment as it seeks to fulfil ambitious plans to develop," Caterham said in a statement.

And a new statement issued by Caterham confirmed that it has sold its stake in the joint Alpine sports car project to Renault.

Now, the latest rumour - flourishing on Twitter and put in print by Speed Week - is that Caterham's F1 project is ceasing immediately, with the green-coloured team to be absent when the 2014 calendar resumes next weekend in Austria.

Speed Week referred to "budget problems" as the main issue, adding that Caterham or Fernandes are yet to comment.

It is not the first time the gossip about Caterham's future becomes common knowledge, it not be true at all, problem is that it is happening too often now.

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