Tony Fernandes refutes Caterham sale speculation

Queens Park Rangers and Caterham owner Tony Fernandes.

Queens Park Rangers and Caterham owner Tony Fernandes. - Credit: PA

Caterham owner Tony Fernandes is adamant he has not put his company up for sale and he remains fully committed to its cause.

Speculation surfaced over the course of the Monaco Grand Prix weekend that Fernandes was looking for buyers for Caterham Group, that includes the Formula One team and the car company, with a price tag of £350million.

With Fernandes' primary sporting concern, QPR, securing promotion to the Barclays Premier League following their play-off final victory over Derby, the suggestion was the Malaysian entrepreneur was looking to secure as much funding as possible to support the club's return back to the big time.

But in a statement issued on behalf of Caterham Group, it categorically stated that 'Caterham Group is not for sale', and 'the reports circulating this weekend are factually incorrect'.

The statement added: 'It is, however, true the Group is actively searching for additional investment as it seeks to fulfil ambitious plans to develop.

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'The shareholders of the Group, co-chairmen Tony Fernandes and Datuk Kamarudin Meranun, remain wholly committed to the Caterham brand.'

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