Caterham behind in engine, gearbox bills – Backmarker team finished? (3rd Update)
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| If Caterham is gone, who are they going to get to clean the track on Friday mornings? |
(GMM) Caterham's F1 foray could be coming to an immediate halt, if the latest rumors are to be believed.
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.
"It is, however, true that the group is actively searching for additional investment as it seeks to fulfill 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 rumor – flourishing on Twitter and put in print by Speed Week – is that Caterham's F1 project is ceasing immediately, with the green-colored 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.
Speed Week said there are rumors Caterham could also pull out of the second-tier motorcycle grand prix racing category Moto2, having until now fielded a team called AirAsia Caterham.
Rumors about the F1 team were already doing the rounds last weekend in Canada, where it was whispered that sale talks took place with the prospective new outfit Forza Rossa, led by former HRT and Force India chief Colin Kolles.
05/27/14 Despite press rumors to the contrary, Caterham Group is not for sale.
The reports circulating this weekend are factually incorrect.
It is, however, true that the Group is actively searching for additional investment as it seeks to fulfill ambitious plans to develop.
The shareholders of the Group, co-Chairmen Tony Fernandes and Datuk Kamarudin Meranun, remain wholly committed to the Caterham brand.
Fernandes confirmed: "The Caterham Group is not for sale. We love what we build and we are always looking for further investment. This is no different to how we started AirAsia. Yes, we are constantly challenging ourselves and making decisions on everything from the structure to projects within the Group. That is normal business. That does not mean we are selling."
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| Will Gene Haas buy the backmarker team and make it into a winner? |
05/25/14 This rumor is upgraded to 'strong' today and will likely soon go to 'fact.' Tony Fernandes is not responding to reports he plans to sell Caterham.
Ten days ago, we reported paddock rumors that the backmarker team, which may be behind in its engine and gearbox payments to suppliers Renault and Red Bull, could be losing the support of its founder.
Fernandes has scarcely been seen in an F1 paddock for months, and on Saturday he appeared to have found another source of "ecstasy" as he watched his London football club Queens Park Rangers move into the premier league.
Now, as the sun rises in the Monaco harbor for F1's premier race, Bloomberg and The Edge Malaysia report that Fernandes plans to sell the Caterham Group.
Citing a source and a memorandum circulated in the Middle East, The Edge said the Malaysian entrepreneur is seeking just under $600 million for the road car company and the F1 team.
Bloomberg said Fernandes did not respond to a phone call, text message and email about the matter.
But he warned in January: "If we're at the back (in 2014) I don't think I will carry on. This is it — the final chance. I need to feel like we're going somewhere."
In March, Caterham's joint road car venture with Renault was scrapped, and the Malaysian Reserve newspaper reported on Friday that plans for a premium airline to be called Caterham Jet have also been scrapped.
05/14/14 (GMM) Is the F1 backmarker Caterham for sale?
That was the question being asked on Wednesday by Germany's Auto Motor und Sport, recalling paddock rumors from the Spanish grand prix venue in Barcelona.
When Renault revealed that its turbo V6 engine bills had gone unpaid, many eyes turned to Lotus, who last year struggled to pay drivers and suppliers.
An initial media statement from the Enstone based team sounded equivocal, but team owner Gerard Lopez now insists: "We have paid all our engine bills."
German correspondent Michael Schmidt said the suspicion has now fallen on Caterham, who according to rumors may be losing the support of its founder Tony Fernandes.
"Apparently, the green team is also behind in its gearbox payments to Red Bull," Schmidt added.