Fernandes denies Caterham is for sale

Following recent rumours of a possible sale of Caterham, chairman Tony Fernandes has officially denied that the Caterham Group is or will soon be up for sale.

Recent reports claimed that Fernandes was preparing to put the company up for sale, but in a press release today, the company formally denies any such moves, instead clarifying they are searching for further investment to strengthen the group.

"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 fulfil ambitious plans to develop. The shareholders of the Group, co-Chairmen Tony Fernandes and Datuk Kamarudin Meranun, remain wholly committed to the Caterham brand.

A statement from Tony Fernandes, also a former team principal of the Caterham F1 Team, notes: “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.”

There does however seem to be reason for speculation, as Fernandes went on record before the current Formula One season that he would not guarantee Caterham's future in F1 if this year does not end up to be better than its previous seasons. Sadly for the team, so far it didn't as the team have yet to score a point and are last in the Constructors Championship.

Further complicating things is the end of the partnership between Renault and Caterham's sportscar division, with both now going their own ways and possibly designing competing sportscar models.