Tony Fernandes sells up as Caterham seal F1 future

Caterham have struggled since their debut in Formula 1 (©GettyImages)

After much conjecture, Caterham have seemingly sealed their place in F1 for the time being after owner Tony Fernandes sold the team to a Middle Eastern and Swiss consortium.

Only last week Fernandes had admitted that ‘F1 hasn’t really worked out’, and the Queens Park Rangers owner has decided to put sol sporting focus on the Premiership team.

The Leafield outfit have struggled since their debut in 2010, battling it out with Marussia at the back of the grid. They had managed to secure the crucial tenth slot in the constructors championship last season thanks to a better ‘best result’ compared to their back marker rivals.

However, Jules Bianchi’s ninth place finish in Monaco secured Marussia’s first ever points in F1 and looks to put Caterham in last position, with no prize money.

Now the team has been sold day-to-day running falls into the hands of former F1 driver Christijan Albers, who replaces Cyril Abiteboul.

"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," Albers said in a statement.

"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."

Ex-HRT team principal Colin Kolles joins the squad in an advisory

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