Rumor

Is Caterham Up For Sale?

Hey, at least it's not being shut down entirely.

There was a time, not so long ago in fact, when it seemed as if Caterham wanted to expand beyond its iconic Seven. There was the AeroSeven Concept from last year along with that whole proposed joint venture with Renault to build a new Alpine and a Caterham-badged sports car. The Renault-Alpine deal has since been called off, but that didn't cause Caterham any lasting damage. However, Autocar is reporting that Caterham Group chairman Tony Fernandes has put the company up for sale.

The supposed asking price is $589 million and that includes the whole shebang: Caterham Cars, its Formula 1 Team, Caterham Technology and Innovation, and Caterham Composites. This is in quite the contrast to what Fernandes had planned for Caterham only back in 2011, when he bought the company. Fernandes wanted a production version of the AeroSeven, but negative customer feedback due to its design dictated otherwise. In addition, Fernandes made clear at the beginning of this year’s F1 season that if his team didn’t improve, he’d quit the sport altogether. Caterham is now in last place – behind Marussia. Again, no official announcement has been made, but we won’t be surprised if this turns out to be true.

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