Caterham denies F1 quit rumours

1,436 views

Caterham CEO Riad Asmat firmly denies the rumours!

Mar.20 (GMM) Caterham has hit back at paddock rumours team founder Tony Fernandes has lost interest in the F1 project and could soon shut it down.

Late last year, Malaysian entrepreneur Fernandes handed over the role as team boss to Cyril Abiteboul.

And the decision to replace the highly rated Heikki Kovalainen with a second pay-driver for 2013 was seen by some as an acknowledgement that Caterham is unlikely to ever make the giant leap from the back even to the middle of the grid.

Why would we spend money like that if we're closing down?

Riad Asmat

Indeed, the green cars lined up dead last on the Melbourne grid last Sunday, while Caterham was the only team whose drivers both finished the race two laps down.

Riad Asmat, Caterham chief executive, dismissed all the rumours.

"If I remember correctly, our alleged demise has been reported about since we came into Formula One in 2010," he is quoted by Speed Week.

He said "The investments we have already made for the new turbo era" beginning in 2014 is clear evidence Caterham has no intention of pulling out of F1.

"Why would we spend money like that if we're closing down?" the Malaysian asked rhetorically.

"Formula one is part of a larger picture of our business model," Asmat continued, "and a fundamental part of the complete philosophy.

"That is the second reason why the rumours of a withdrawal are nonsense. Caterham is staying this year, next year and for many more years," he insisted.

Write a comment
Show comments
About this article
Series F1
Article type Breaking news
Tags abiteboul, asmat, caterham, f1, fernandes, gmm, pic, van der garde

User photos

EuroRacer
F1

EuroRacer

27 photos
darkcloud154
F1

darkcloud154

22 photos
Renato Marques
F1

Renato Marques

5 photos
devilwoman
F1

devilwoman

1 photos
stirlingf18
F1

stirlingf18

1 photos
erikjunius
F1

erikjunius

37 photos
SurdinP
F1

SurdinP

1 photos
Upload photo