Tony Fernandes says the Caterham Group is not for sale amid reports he was set to walk away from the F1 team.

Fernandes announced before the start of the season that he would not be willing to continue in F1 if Caterham was off the pace this year, saying: "If we're at the back, I don't think we're going to carry on. After five years and getting no points; there's a limit to everyone's patience, money, etc."

With Caterham having endured a poor start to the season and main rivals Marussia scoring its first points in the Monaco Grand Prix on Sunday, reports in Malaysia claimed that Fernandes had put the group up for sale.

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However, in a statement released on Tuesday evening Caterham described the reports as "factually incorrect" and group co-chairman Fernandes reiterated his commitment.

"The Caterham Group is not for sale. We love what we build and we are always looking for further investment. This is no different to how we started AirAsia.

"Yes, we are constantly challenging ourselves and making decisions on everything from the structure to projects within the Group. That is normal business. That does not mean we are selling."

Caterham also announced this week that it is releasing a special Kamui Kobayashi version of one of its road cars for the Japanese market.


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"The report of my death is an exaggeration" - Mark Twain

"It is Peace in our Time" - Neville Chamberlain

"The Caterham Group is not for sale" - Tony Fernandes