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CATERHAM F1 TEAM STATEMENT

22 October 2014

On 29 June 2014, Caterham Enterprises Ltd, Caterham (UK) Ltd and Sheikh Mohamed Nasarudin (Seller) and their shareholders Tony Fernandes and Datuk Kamarudin Bin Meranun entered into a Sale and Purchase Agreement (SPA) with Engavest SA (Buyer) with regards to 1Malaysia Racing Team Sdn Bhd/Caterham F1 Team.

Since the date of the Agreement, the Seller has refused to comply with its legal obligations to transfer their shares to the Buyer. The Buyer has been left in the invidious position of funding the team without having legal title to the team it had bought. This is in total contradiction to the Seller’s press release of 3 October 2014 which stated that Mr Fernandes and his Caterham Group had no longer any connection with the Caterham F1 Team.

The administrators of Caterham Sports Limited have been appointed on behalf of Export-Import Bank of Malaysia Berhad (Exim), a creditor of Mr Fernandes and the Caterham Group. The Buyer has no connection with Exim. Caterham Sports Ltd was a supplier company to the Caterham F1 Team. Very regrettably, the administrators’ appointment has had devastating effects on the F1 Team’s activities. Since their appointment, the administrators have released various press statements which have been severely detrimental to the management of the Caterham F1 team.

After three months of operating the Caterham F1 Team in good faith, the Buyer is now forced to explore all its options including the withdrawal of its management team. Lawyers have been instructed by the Buyer to bring all necessary claims against all parties, including Mr Fernandes who, as an owner, will run the F1 operation.

Ends

Med andra ord verkar det vara en himla soppa. En köpare som inte har sina andelar och en ägare som inte vill lämna i från sig sina andelar. De lär säkerligen vara en hel del diskussioner via olika telefonlendignar under kvällen och natten och vad de mynnar ut i vet jag inte.
Däremot vet jag att jag är otroligt trött på den här typen av nyheter.
Lös problemen, lös dem fort. Detta skadar stallet. Ingen vill läsa om jurister hit och jurister dit. Köparen hit och säljaren dit. Folk vill se racing, folk vill läsa om racing och om vad som händer på banan.
Jag hoppas för Marcus Ericssons dela att det löser sig, för hans racing har varit bra på sistone och han behöver fortsätta köra bra. Han slåss för sin framtid.