Tony Fernandes wants £350m for Caterham after getting ‘bored’ with F1

It seems that Tan Sri Tony Fernandes is finally bored with one of his ‘toys’. News that he is ready to sell Caterham Formula One has been circulating and gaining momentum over the weekend although he did not respond to comment on them when queried.

Reports have been going around that Fernandes wants £350 million for the team after underperforming in the last few years. He had warned earlier this year that unless performance in the team improved, he will stop funding the team.

The owner of AirAsia had earlier said that he needs to feel like the F1 outfit is going somewhere and if that is not the way it is, then he will not carry on. Among the 11 teams, Caterham is ranked last. In the 2012 and 2013 seasons, the team failed to score any points and it seems that the trend is continuing this year where it has been 5 races and still no points scored.

Fernandes, who also owns the Queens Park Rangers football club had scrapped the plans to launch Caterham Jet, which was supposed to be a premium private jet company. His venture into sports has not been as pleasing where he bought QPR only to see them relegated the same season. His investment in Caterham has nothing to speak about.

But QPR has since bounced back and will be playing in the Barclays’ Premier League next season, sparking rumours that Fernandes wants to get rid of Caterham to inject funds into maintain QPR in the league.