Tag Archive: Tony Fernandes

Oct 30

Forza Rossa project still alive after Caterham collapse

With Caterham now in administration, the backmarker’s former management may be returning its focus to the Forza Rossa project.

Forza Rossa - photo Getty Images Before the mysterious investment group bought Caterham from Tony Fernandes earlier this year, Colin Kolles was deeply involved in trying to get a Romanian project called ‘Forza Rossa’ up and running with FIA approval. Read the rest of this entry »

Oct 27

F1 set for three-car teams as more risk collapse

F1 risks sliding into crisis and having to reinvent its very DNA as struggling backmarker teams begin to succumb to collapse.

2014-06-08_0747 HRT folded in 2012, and now F1’s two other newest teams Caterham and Marussia are in the throes of financial administration. Organisers of next weekend’s US grand prix look set to welcome just 9 teams to an 18-car grid, unprecedented since BAR-Honda was banned for a time almost a decade ago.
Read the rest of this entry »

Oct 24

Caterham F1 Team statement

Team to continue operating

11 - Caterham F1 Team Following a request of yesterday evening at 21.55hrs CET from Caterham Sports Limited’s administrators and the legal advisors of Mr Tony Fernandes’ related EXIM Bank, representatives of 1MRT/Caterham F1 Team have agreed, with all rights reserved, to hand-over management of the Caterham F1 Team to the administrator Mr Finbarr O’Connell in the higher interest of allowing the team to continue operating and preparing for the next events. Read the rest of this entry »

Oct 24

Marussia also in danger of missing US GP – reports

F1’s grid may have shrunk to just 18 cars by the time of the US grand prix next weekend.

2014-03-02_0061 - Marussia F1 Team - Bahrain - Max Chilton Caterham’s troubles – with administrators locking the green cars inside the Leafield factory amid an unseemly spat with former owner Tony Fernandes – are now well documented. Read the rest of this entry »

Oct 24

Kolles admits Caterham may miss Austin deadline

The clock is ticking down to struggling F1 backmarker Caterham’s apparent collapse.

2010-08-01 - Hispania F1 Racing Team - Colin Kolles 01 With the Saturday freight deadline for sending cars and equipment to Austin now just hours away, staff remain locked out of the Leafield factory while an unseemly spat continues to escalate between the team’s former and current owners. Read the rest of this entry »

Oct 23

Engavest replies to Fernandes claims

Our statement of earlier today still stands.

11 - Caterham F1 Team Engavest SA, strongly refutes the allegations of Tony Fernandes and Caterham Group CEO Graham Macdonald regarding its conduct while trying to purchase Caterham F1. Read the rest of this entry »

Oct 23

Statement on behalf of Engavest SA

Engavest SA has fulfilled all the conditions precedent, including paying the purchase price for the shares.

11 - Caterham F1 Team On 29 June 2014 Engavest SA signed a Sale and Purchase Agreement with Tony Fernandes and the Caterham Group to acquire the shares of 1Malaysia Racing Team/Caterham F1. Read the rest of this entry »

Oct 23

Caterham staff locked out of Leafield factory

“They can’t get into the factory today”

2012-02-04 - Team Caterham 01 Caterham’s crisis went from bad to worse on Thursday, as team staff found themselves locked out of the Leafield factory. Read the rest of this entry »

Oct 23

Caterham collapse ‘better’ for F1 – Ecclestone

Caterham is on the brink of collapse, as the backmarker team loses even the support of F1 supremo Bernie Ecclestone.

2014-03-02 - Caterham F1 Team - Trucks “I think it’s better they go,” said the 83-year-old Briton as the latest developments emerged late on Wednesday. “I don’t want people going around with begging bowls,” Ecclestone told the Sun newspaper in an article credited to business journalist Caroline Reid. Read the rest of this entry »

Oct 22

Caterham F1 Team statement

The Seller has refused to comply with its legal obligations to transfer their shares to the Buyer

11 - Caterham F1 TeamCaterham Enterprises Ltd, Caterham (UK) Ltd and Sheikh Mohamed Nasarudin (Seller) and their shareholders Tony Fernandes and Datuk Kamarudin Bin Meranun entered into a Sale and Purchase Agreement (SPA) with Engavest SA (Buyer) with regards to 1Malaysia Racing Team Sdn Bhd/Caterham F1 Team. Read the rest of this entry »

Oct 22

Struggling Caterham in race to send cars to Austin

Reuters reports that the green cars are scheduled to leave Caterham’s Leafield factory bound for Austin this weekend.

2014-03-16 - Caterham F1 Team - Australia Caterham’s financial troubles appear to be deepening, as it emerges the struggling F1 team may have no cars to race at the forthcoming US grand prix. Read the rest of this entry »

Oct 21

More alarming news about Caterham future

More alarming news about the health of the ailing F1 backmarker Caterham has emerged.

2014-03-16 - Caterham F1 Team - Australia - Marcus Ericsson 03 The posts have now been deleted, but race driver Kamui Kobayashi reportedly admitted on Facebook recently that he considered pulling out of the Russian grand prix when Caterham ran out of spare parts. Read the rest of this entry »

Oct 17

Status Grand Prix takeover Caterham Racing and joins GP2 Series

GP2 organisers confirm that UK based GP3 team Status Grand Prix have signed an agreement to acquire Caterham Racing.
GP2 Series Media The GP2 team will compete as Caterham Racing for the remainder of the 2014 season, and will become Status Grand Prix in 2015. The current driver line up is unaffected by the takeover for the final round at Yas Marina Circuit.

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Oct 04

Fernandes distances himself from Caterham team

Tony Fernandes has moved to distance himself from the debt and chaos of the formula one team he founded.

Tony Fernandes F1 backmarker Caterham has tried to play down the gravity of its fight for survival this weekend after it emerged bailiffs had seized equipment at its Leafield base. Read the rest of this entry »

Oct 02

Caterham hits back after bailiffs seize F1 equipment

The signs are growing stronger that Caterham may not make it to the end of the 2014 season.

2014-03-02 - Caterham F1 Team - Leafield Technical Centre office Already this week, rumours were doing the rounds that unpaid suppliers Pirelli and Renault are growing increasingly impatient with the situation in the wake of founder Tony Fernandes’ shock mid-season exit. Read the rest of this entry »

Oct 01

Kobayashi retains Caterham seat for home race

Kamui Kobayashi has retained his race seat at Caterham for his home grand prix this weekend.

IMG_5973 As the team seeks new sources of income in the wake of founder Tony Fernandes’ shock mid-season exit, the Japanese driver lost his place to Andre Lotterer at Spa in August. Read the rest of this entry »

Sep 29

Three teams in battle for 2015 survival

The fate of three formula one teams continues to hang in the balance.

2014-06-22 - Williams Martini Racing - Austria - Felipe Massa 01 teams The health of the sport’s most financially struggling outfits has been under an intense spotlight since it emerged the richest teams might be asked to plug gaps on the 2015 grid by running three-car operations. Read the rest of this entry »

Sep 23

Pirelli threatens to withhold tyres from Caterham – report

Caterham must urgently make a payment ahead of Suzuka

2014-06-05_0015 Caterham could be left stranded without tyres ahead of the forthcoming Japanese grand prix, according to the Dutch newspaper De Telegraaf. Read the rest of this entry »

Sep 07

Post-race rumours rock Monza paddock

F1’s 2015 ‘silly season’ is no longer just about the drivers.

2014-06-08_0747 Now, it is major rumblings about the teams themselves that are making waves as the sport packs up after Lewis Hamilton’s win at Monza. Read the rest of this entry »

Sep 06

Fernandes happy to have sold Caterham

Tony Fernandes has broken his silence to reveal it is “a relief” to have left formula one.

Tony Fernandes The entrepreneur, best known for his Malaysian low-cost airline Airasia, recently sold the Leafield based Caterham team to mysterious Swiss-Middle Eastern investors led by Colin Kolles and Christijan Albers. Read the rest of this entry »

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