Caterham sale rumors rubbished by owner Tony Fernandes - MotorSportsTalk

Caterham F1 Team owner Tony Fernandes has moved to end rumors in the Malaysian media that suggested he might be set to sell the team and its sportscar division.

According to a story on The Edge Malaysia, Fernandes was set to put the entire Caterham brand up for sale for almost $600m after failing to move from the back of the grid in five years, despite other commendable achievements.

However, Fernandes – who also owns English soccer club Queens Park Rangers – put an end to these rumors in a statement released earlier this week.

“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,” he explained, with reference to his other business venture.

“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.”

Caterham matched its best ever result at last weekend’s Monaco Grand Prix, with Marcus Ericsson coming home in 11th place. However, this was overshadowed by Marussia’s first ever points in Formula 1, by virtue of Jules Bianchi’s ninth place finish.

Although the team may not have excelled and lived up to Fernandes’ initial expectations, Caterham has certainly been a welcome addition to the Formula 1 paddock since making its debut in 2010. Should there be another race like Monaco at some point this season, Caterham could follow in Marussia’s footsteps and pick up its first ever points.

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Ryan Hunter-Reay was named to replace Conor Daly in Ed Carpenter Racing’s No. 20 Dallara-Chevrolet, starting in the NTT IndyCar Series event next week at Road America.

Hunter-Reay is the 2012 series champion and 2014 Indianapolis 500 winner. He finished 11th for Dreyer & Reinbold last month in the 107th Indy 500, his first start since the 2021 season finale. He drove full time for Andretti Autosport from 2010-21.

“We need to improve our competitiveness and I wanted to add a fresh perspective from a driver like Ryan who has a massive amount of experience and success as well as a reputation as a team leader. I am excited to welcome Ryan to the team,” team owner Ed Carpenter said in a team release. “We have worked together in the past as teammates and he tested for ECR at Barber Motorsports Park in October 2021, where he made an immediate impact as we were able to qualify one of our cars on the pole following that test. I am confident that his experience and technical abilities will be an asset to ECR as we move forward toward our goals as a team.”

Hunter-Reay has 18 IndyCar victories, most recently in 2018. He also is a winner in the IMSA WeatherTech SportsCar Championship, having been a part of winning entries in the 2020 Twelve Hours of Sebring and 2018 Petit Le Mans. Last year, he was an endurance driver for Cadillac Racing while being on standby for Chip Ganassi Racing.

He replaces Daly, whose departure was announced a day earlier in what the driver and team said was a mutual decision.

“I was surprised when I got the call from Ed,” Hunter-Reay said in a team release. “He described how frustrated he was that his team has not been able to realize its potential despite their efforts, investments, as well as technical and personnel changes over the past few years and asked for my help. Ed and I are very close friends and have been for a long time. I’ve worked with the team in the past and they are a very talented group with high expectations and a committed partner in BITNILE.COM.

“This will certainly be a challenge for me as well. It’s a tough situation jumping in a car in the middle of the season without any testing in what I believe to be the most competitive series in the world. Certainly, part of my motivation in saying ‘yes’ to Ed is the great challenge ahead. The last time I turned right driving an NTT IndyCar Series car was in October of 2021 with this team at Barber. However, I remain very confident in both my driving and technical abilities and believe by working with the talented people at ECR and Team Chevy, while representing BITNILE.COM, we will make progress. I am going to do everything I can do to help the team achieve its long-term objectives.”

Said Milton “Todd” Ault, the chairman of sponsor BitNile.com: “It is great for BitNile.com to be aligned with an Indy 500 Winner and an NTT IndyCar Series champion. I have followed Ryan’s career for years and I am confident he will challenge the entire ECR team to perform at higher levels. I wish everyone luck at Road America.”