Caterham F1 sale could be announced this week

Monday 30th June 2014, 17:18 by Ryan Wood 

Caterham F1 Team

Caterham Group owner Tony Fernandes is believed to have found a buyer for his Formula 1 team following months of speculation about the Leafield-based outfit.

The Malaysian businessman issued a warning at the start of the 2014 season which suggested he may pull out of F1 if Caterham fails to score a point this year - which it's yet to do unlike chief rival Marussia.

"If we're at the back I don't think I'm going to carry on," he said in February. "Nothing is set in stone, but after five years with no points there is a limit to one's patience, money, motivation, etc. So it's an important year."

However the team denied reports of a potential sale in May, insisting they remain committed to the project but are seeking additional investment.

That however seems to have failed, with high-level sources close to the team confirming a sale is in fact on the cards and could be completed and announced as early as this weekend, ahead of the British Grand Prix.

The buyers identity remains anonymous, but it's believed there are four interested parties, with former HRT team principal Colin Kolles the most notable.

The Romanian has been linked with Forza Rossa, a new team which is backed by the Romanian government and has so far failed to convince the FIA that it deserves a place on the grid.

The project could potentially take a major step forward if it purchases Caterham's facility and more importantly, its entry.

Some sources claim that the money is coming from the Middle East and Switzerland however, which would rule Kolles involvement out.

Caterham Cars is not believed to be part of the sale as Fernandes is keen to keep hold of this part of the business which he admitted is going well, unlike the motorsport side.

"F1 hasn't worked, but love Caterham Cars," he tweeted last week.

LATEST FORMULA 1 NEWS

RED BULL

Newey warns F1 fast becoming a one-make series

FERRARI

Ferrari sacks engine chief amid restructure

tech talk

Tech Talk: Marussia innovation boosts Ferrari

MERCEDES

Hamilton claims FRIC ban will benefit him

f1 news

Drivers need to be able to speak their mind - Horner

caterham

Caterham launches legal action against employees