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Formula One: Caterham boss Fernandes denies report saying team is for sale

Published on May 28, 2014 6:36 AM
Queens Park Rangers' owner Tony Fernandes celebrates after their Championship play-off final soccer match against Derby County at Wembley Stadium in London on May 24, 2014. -- PHOTO: REUTERS

LONDON (AFP) - Flamboyant Malaysian millionaire Tony Fernandes, contrary to press reports, is not looking to sell his Caterham Formula One team he announced in a statement on Tuesday.

Fernandes, who also owns budget airline AirAsia and the English football club Queens Park Rangers who made an immediate return to the Premier League after winning their play-off final last Saturday, added that the group is looking to attract outside investment.

Fernandes had felt compelled to issue the statement after it had been reported by Malaysia’s Edge financial daily on Sunday that he planned to offload the group’s assets, adding that an information memorandum for the sale was being circulated in the Middle East.

“Caterham Group is not for sale,” said 50-year-old Fernandes on Tuesday.

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