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Photo: Caterham F1 Team

Caterham F1 Team has announced that the team have been sold to a consortium of Swiss and Middle Eastern investors advised by former F1 Team Principal Colin Kolles. The ownership of the team has been transferred from Tony Fernandes and his partners to the new owners with immediate effect.

The day to day running of the team will be handled by former Dutch F1 driver Christijan Albers assisted by Manfredi Ravetto. The team will continue to race under the Caterham F1 Team name, and will be based at Leafield in the near future, but of course this may change. Tony Fernandes and gang still own the Caterham car company for now, so they basically own the Caterham name.

No transaction price was mentioned but there were rumours in late May 2014 that Fernandes could be planning to sell niche sports car company Caterham Cars and its Formula One team for around 350 million pounds (RM1.9 billion). Of course, only the F1 team was sold in this case.

We first heard of the team back in 2009 when it was revealed that Tony Fernandes and a consortium of Malaysian investors including Naza Group’s SM Nasarudin was forming an F1 team.

The new F1 team was initially known as the 1Malaysia Racing Team (1MRT). The name Lotus Racing was then officially announced, and was subsequently renamed to Team Lotus. After buying Caterham the car company in 2011, Tony and gang renamed Team Lotus to Caterham F1 Team.