Caterham owner hints at quitting Formula One

Caterham owner and Malaysian businessman Tony Fernandes has hinted at quitting Formula One operations.

Before closing down his Twitter account last Friday, Fernandes tweeted, “F1 hasn’t worked, but love Caterham Cars.”

Last year, Caterham finished last in Formula One and has not been able to score a single point in this year’s season. With this, rumors state that the struggling team have held talks with potential investors and buyers.

There is also a speculation that Cyril Abiteboul, team principal of Caterham, would return to Renault.

Fernandes owns the Air Asia airline and the Premier League team Queens Park Rangers before entering F1 in 2010 with the Lotus Racing team. Then, in 2012, the team’s name was changed to Caterham when Fernandes bought the manufacturer of lightweight sports cars.

The Malaysian businessman has plans to expand the Caterham Group, but also looks at the possibility to sell the F1 team if it doesn’t improve.