Consortium behind purchase of Caterham F1

A Swiss-Middle Eastern consortium is understood to be behind the takeover of Caterham F1, in a deal that will be confirmed in the coming days.

It’s believed that the consortium members, including interests from Dubai, intend to keep a low profile. The deal was brokered by a former F1 insider who will retain a role as an advisor.

As previously revealed here current team principal Cyril Abiteboul is expected to return to Renault’s Viry engine division with the full support of Red Bull. His initial task will be to give the beleaguered organisation some direction as it prepares to upgrade the current engine for 2015.

A new team principal and new technical direction will be installed at Caterham’s Leafield base, and it’s understood that their brief will be to improve the efficiency of the team – and try to ensure that it finishes in the top 10 of this year’s World Championship.

The Caterham name will be retained, as there are no plans to request a change for 2015 and beyond. The team will also continue to use Renault engines.

For more see previous story: (see http://adamcooperf1.com/2014/06/27/new-owners-at-caterham-f1-as-fernandes-prepares-for-exit/).

4 Comments

Filed under F1 News, Grand Prix News

4 responses to “Consortium behind purchase of Caterham F1

  1. Mr.Hands

    Not near as exciting news as many hoped.

  2. David Myers

    The team has had several restructures since 2010 and they’ve led to the team going backwards. Conservative designs, poor choices of driver (Pic, van der Garde and Ericsson were/are hopeless), and Abiteboul as team principal haven’t helped. I hope they manage to get out of the slump and fast.

  3. Will be interesting to see if they can attract sponsorship too. At the moment most of the companies on the car are linked with Fernandes’ other interests – Airbus supplying his airline etc.

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