Caterham F1 taken over by Swiss and Middle Eastern investors

Caterham will now be owned by former Dutch Driver Christijan Albers

Caterham F1 has been sold to a team of Swiss and Middle Eastern Investors by Air Asia owner Tony Fernandes as advised by the principal owner Collin Kolles.

The F1 team will continue to race as Caterham F1 while its headquarters will remain at Leafield until any further decisions or changes are agreed upon.

Former dutch driver Christijan Albers will take over from Cyril Abeitoul with immediate effect and will be assisted by Manfredi Ravetto; the two will look at the daily affairs and the functioning of the F1 team.

“We are aware of the huge challenge ahead of us given the fight at the bottom end of the Championship and 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," said Albers.

We are delighted to confirm that we have new owners and a new management team in place. Read all about it here http://t.co/A72ArcuaKf

— Caterham F1 Team (@CaterhamF1) July 2, 2014