Rumours are being circulated that Air Asia CEO, Tony Fernandes, will end his association with his Formula One team, reports the Edge.
The 50-year-old Malaysian businessman is seeking about RM1.9 billion for the assets that include UK sports car manufacturer Caterham Cars Ltd and the Caterham Formula One Team.
However, Fernandes didn’t respond to a call and a text message to his mobile phone, as well as an e-mail, when Bloomberg recently requested a comment about the matter.
The reported sale follows Fernandes’ warning in January to stop funding the F1 Team if performance didn’t improve. According to official FIA results, the Caterham-Renault racing team failed to win a single point in the 2012 and 2013 seasons, as well as in the first five races this year.
In March, Caterham’s joint road car venture with Renault was scrapped, and the Malaysian Reserve newspaper reported on Friday that plans for a premium airline to be called Caterham Jet have also been scrapped.
Tony Fernandes, ranked 28th richest person in Malaysia by Forbes magazine with a net worth of US$650 million, also owns British football club Queens Park Rangers that has won a promotion to the Premier League next season.
Source: The Edge, Malaysian Reserve, Bloomberg