Caterham boss Fernandes admits 'F1 hasn't worked'

Caterham F1 Team

27 June 2014 by Ryan Wood

Caterham owner Tony Fernandes has once again reignited speculation that he is looking to offload his Formula 1 team.

The Malaysian businessman closed his popular Twitter account on Thursday, but before doing so he tweeted a short statement hinting that he'll look to keep the automobile operation but dump the F1 side of Caterham.

"F1 hasn't worked but love Caterham cars," said the 50-year-old.

We reported that the team was put up for sale earlier this year, but the team denied the report, claiming they are "actively searching for additional investment."

Fernandes' tweet won't help their cause, whilst a source close to the team told The F1 Times that they are under no illusions that the outfit would be sold if the price was right and that it might have already changed hands with a possible announcement expected within weeks.

It's not clear who might be interested in buying the team, but former HRT boss Colin Kolles' name has been mentioned as he seeks to get Romanian-backed Forza Rossa on the grid for 2015/16.