Airline mogul Tony Fernandes may be looking to sell car and F1 business

According to Britain’s Daily Mail tabloid, AirAsia and Queens Park Rangers owner Tony Fernandes may be looking to exit from one of his other ventures, Caterham.

The group comprises of the road-going car manufacturer Caterham Cars and the Caterham-Renault F1 team. Fernandes is reportedly asking £350 million ($640 million CAD) for the group.

The sale rumour comes after five years of Fernandes’ ownership of the F1 team – initially named Lotus – which has yet to garner a single point in the series. Queens Park Rangers also produced a £65.4 million loss, breaking the Football League Financial Play regulations, which could result in a £50 million fine.

Earlier this year, the airline mogul warned he would ditch the F1 team if Caterham failed to improve their performance.

‘If we’re at the back I don’t think I’m going to carry on,’ Fernandes said.

We recently took a rip in the Caterham Super 7 Hayabusa.

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