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Caterham Formula One Team up for Sale, Says Report

Kuala Lumpur:  Flamboyant Malaysian millionaire Tony Fernandes has put his Caterham Formula One team up for sale, seeking about 350 million pounds ($589 million) for all assets of the Britain-based parent company, a report said.Fernandes, who also owns budget airline AirAsia and the English football club Queens Park Rangers, had warned in January that he would stop funding the F1 team unless its performance improved.Citing an unnamed source, Malaysia's Edge financial daily on Sunday said Fernandes planned to offload the group's assets, adding that an information memorandum for the sale was being circulated in the Middle East.Fernandes, ranked the 28th richest person in Malaysia by...
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1y ago from NDTVSports.com 0
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