Who owns caterham f1

Caterham Racing may undergo a rebrand if Fernandes wants to hold onto it. When he first bought the GP2 team in , it was called Caterham Team AirAsia and ran in the red and white colors of the airline. Something similar could be on the cards….

So as you can see, the whole Caterham situation has left us with more questions than answers. What we do know is that the team will be racing for the rest of the season, and its future beyond that seems to be set.

Here, they have a chance to bring the team up the order and, hopefully, into a new dawn in We and our partners use cookies on this site to provide a better experience with content, analytics, ads and to help improve security on our site. To accept cookies, close this box or continue to use our site, otherwise please do not use this website.

To close this box, click I agree. Cookie Policy. Post was not sent - check your email addresses! Sorry, your blog cannot share posts by email. Actually now I think about it I believe that is how it worked in TBH neither of them have even the vaguest historical connection to the team that Senna and Clark drove for. Same applies to the rash of other teams in other categories.

Still the same man wearing the trousers. Thanks Joe. I remember my dad trying to build a Caterham once; lots of bits — missing bits — hard to bolt together; confusing instructions.

Is he? Is there a Romanian F1 project? Did the F1 announce a second new entry had been granted? I see no evidence of this. I might have overheard something about Forza Rossa, perhaps. But of course, there is nothing official about this project.

There was a presentation to the FIA in the summer. Last I heard they were looking for cash to pay a sizeable non-refundable guarantee to the FIA. And then changed the name….. Buying some equipment and intellectual property would be easier. Thanks for the insights Joe, makes for interesting and confusing reading. What a shambles. I really thought Fernandes was a decent sort. The poor employees, such a shame as even on a shoestring budget the car away appearing to improve since the updates came along.

Was there not a Baltic states gentleman who was interested in running an ex-Japanese entrant some years ago? I thought that that was linked to the name Dragon. Will there be a domino effect? I have met the man and his enthusiasm and energy deserves much better reward. Does anyone know for sure if the current cars etc are actually in the Leafield facility? If I wanted to buy Caterham to go F1 racing, who would I make the cheque out to and what would I actually get?

I hope Bernie has a plan B in place — such as paying two other teams to bring a car each plus drivers… Maybe an opening for Rossi to get a start? The Buyer has no connection with Exim. Since their appointment, the administrators have released various press statements which have been severely detrimental to the management of the Caterham F1 team. After three months of operating the Caterham F1 Team in good faith, the Buyer is now forced to explore all its options including the withdrawal of its management team.

Lawyers have been instructed by the Buyer to bring all necessary claims against all parties, including Mr Fernandes who, as an owner, will run the F1 operation.

After the statement was issued employees at Leafield leaving work for the day had their cars searched by private security contractors hired by the administrators. Reportedly a number or former elite British Army soldiers in their ranks.

The factory was then locked down by the security and the staff have not returned, and the cars seem unlikely to make it to the next grand prix.

Tony Ferndandes refuted the claim made by Engavest that he has not complied with a legal obligation to transfer his shares to the new owners. The continued payment of staff and creditors was so important to me that I ensured that the shares would not be transferred to the new buyers unless they complied with this condition.

Sadly, Engavest has failed to comply with any of the conditions in the agreement and Caterham Sports Ltd the UK operating company of the F1 team has had to be put into administration by the bank, with large sums owing to numerous creditors. Our agreement with Engavest was very clear: there was no legal obligation to transfer the shares to them unless certain conditions — which included paying creditors — were met.

Those conditions have not been met. Our lawyers have asked Engavest several times to comply with these conditions but they have failed to engage. If you agree to buy a business, you must pay its bills. They have breached that promise and now, sadly, it is others such as the employees and the fans of the Caterham F1 team that will suffer if the team ceases to race. I sincerely hope that this will not be the case and that a solution can be found. The whole agreement with Engavest was based around a low consideration for the business, with easy payment terms so that creditors and staff could be paid.

The buyers were made fully aware at the time of all outstanding liabilities. However, it appears to me that they never had any intention of paying these liabilities. I go on to question how anyone who was interested in the long term future of the business would appoint one of their cleaners — Constantin Cojocar — as the sole director and shareholder of the UK operating Company?

We continue to see claims and counter claims from the F1 team which are totally unfounded. Not only have they failed to pay the creditors and have even left our shareholders to pay some of the creditors on their behalf , but they have failed to pay us anything for use of our factory and site, or anything for the use our brand name. In short the new owners have paid us nothing and now the administrators have been appointed they want to walk away from their liabilities.

Every single condition precedent of the Sales and Purchase Agreement for which Engavest was responsible has been met. All salaries have been paid. Engavest sold CSL. It did not appoint Mr Cojocar. The group of 40 employees who were released from their contracts with no notice following the acquisition of the team claim that they were not paid their July salaries which remain outstanding.

The statement made by Engavest does raise the question of who did they sell CSL to? Cojocar is said to be the sole director and shareholder, but he claims that he was appointed by Ravetto an Italian or Kolles. The current situation now sees the administrator in full control of the Caterham F1 team and Bernie Ecclestone has given permission for the team to skip the next two races. The entire team is now for sale as a going concern, complete with F1 entry, cars, intellectual property and staff.

Mr Ecclestone also agreed to give dispensation to Caterham F1 such that it could if necessary miss the U. Colin Kolles, the previous principal of the team offered today to hand over management control of 1MRT to the administrators.