As expected the Caterham F1 Team has announced a change of ownership with Tony Fernandes making way for a consortium of Swiss and Middle Eastern investors. The new ownership group is being advised by Colin Kolles, former HRT Team Principal.
Christijan Albers, former F1 driver with Minardi and Midland/Spyker, will be calling the shots on a day-to-day basis with assistance from Manfredi Ravetto, also previously from HRT.
Caterham will continue to operate from its Leafield base in the UK and will maintain its current team title. The ownership change takes place with immediate effect.
“We are aware of the huge challenge ahead of us given the fight at the bottom end of the Championship,” Christijan Albers said. “Our target now is to aim for tenth place in the 2014 Championship.
“We are very committed to the future of the team and we will ensure that the team has the necessary resources to develop and grow and achieve everything it is capable of.”