Former F1 racer Jarno Trulli is set to sue Caterham team owner Tony Fernandes, according to reports in the Italian press.

The 38-year-old had been set to race for the team last year before being replaced by Vitaly Petrov, who was able to bring financial backing from Russia to team up with Heikki Kovalainen, with Trulli sitting on the sidelines.

The Italian is now reported to be preparing legal action against team boss Fernandes however, having revealed that he agreed to stand down from his role with the team on the condition that the terms of his contract would be met.

With those conditions not met, Trulli said had been left with no option but to sue for the money lost, with it reported in Autosprint that the Italian had been angered by the fact that Fernandes has since gone on to plough money into both Caterham and into English football club Queens Park Rangers.

"I'm going to sue Fernandes, because he owes me a lot of money," the former Renault man was quoted as saying. "My career in Formula One ended because I agreed to give up my place, because I was assured that the team would fulfil its contractual obligations.

"To date, this has not occurred."

Trulli had earlier said he didn't miss being in F1 given that drivers now no longer push to the maximum on track and are instead forced to deal with tyre degradation.