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Formula One: Malaysia's Tony Fernandes sells Caterham

Published on Jul 2, 2014 10:41 PM
 
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. Fernandes has sold the British-based Caterham Formula One team to a consortium of Swiss and Middle Eastern investors, it was announced on July 2. -- PHOTO: REUTERS

LONDON (AFP) - Malaysian businessman Tony Fernandes has sold the British-based Caterham Formula One team to a consortium of Swiss and Middle Eastern investors, it was announced on Wednesday.

"Caterham F1 Team is pleased to confirm that Tony Fernandes and his partners have sold the team to a consortium of Swiss and Middle Eastern investors, advised by former F1 Team Principal Colin Kolles," said a team statement.

Fernandes, the owner of budget airline AirAsia and London football club Queens Park Rangers, who next season will be back in the lucrative English Premier League, said in May he was not looking to sell Caterham but was keen to attract additional investment.