Caterham (formerly Lotus)

Titch

Champion Elect
Premium Contributor
Will Kamui get paid? Will the 40 heading to Abu Dhabi get paid. Will the car/s make it past FP1. Or are a very large crowd about to discover that funding a broken team leads to empty pockets.

Fernandez is a disgrace, F1 should be ashamed to have people like him in the sport.
 

Greenlantern101

Super Hero And All Round Good Guy
Contributor
I think any new teams coming into the sport should go through a detailed investigation as to how they intend to fund their team. A key part of that should be investigating the owners previous business dealings to ensure they are reputable.

If any arsehole can enter F1 it risks degrading it further.
 

Greenlantern101

Super Hero And All Round Good Guy
Contributor
Like I say 'previous business dealings' should be taken into account. This isn't the first time I would wager, that he has ****ed someone over.
 

canis

Race Winner
Valued Member
Why is everyone blaming Fernandes? He sold the team in July and it is no longer his issue. I agree that he was never going to get the success that he was after, but to blame the current situation on him when he has not been in control for a number of months is not really fair...
 

Greenlantern101

Super Hero And All Round Good Guy
Contributor
Tony F. is worth £650 million according to Wiki.

230 staff on average wage of say 35K not paid for 7 weeks. = £155K to pay them what they are due. Out of £650 million.

But no, he has walked away.
 

F1Yorkshire

Avatar for sale to the highest bidder
Contributor
He sold the business. If the new owners decide to not pay the staff then that's not his issue. I'm not saying he's done the right thing by cutting his losses and getting out but the responsibility lies with the new owners and not him.
 

Jen

Here be dragons.
Contributor
If TF sold the business in July and the staff are owed 'only' seven weeks salary, then it is really not his fault is it?
 

KekeTheKing

Banned
Supporter
Bit of a he-said/she-said really. But one crucial fact stands out, Mr Fernandes never turned over the controlling shares of the company/companies.

From Joe Saward at the end of October; https://joesaward.wordpress.com/2014/10/20/explaining-the-mess-at-caterham/

It is difficult to ascertain exactly what has happened, but it seems that shares in some of the companies in the original structure may have been pledged in exchange for loans. If these pledges were not lifted the new owners could not take control and thus their backers could not reasonably commit money to the project.
In essence there was never really an ownership change. The mystery Middle Eastern/Swiss consortium Engavest was never actually in control of anything, which is why the ex-Caterham employees place the blame squarely at Tony's feet.

Nobody really knows the exact details of the deal that was supposedly struck, but it's clear that Fernandes' only goal was to wash his hands of Formula One as cheaply as possible, no matter how much he owed to his creditors and employees. This whole imbroglio is of Tony's making alone.
 

gethinceri

Daniil Kvyat Fan. Alfa Romeo Fan.
Contributor
"Imbroglio", such a lovely word.
But by your own comments, we don't know and knowing F1 we probably never will.
 
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KekeTheKing

Banned
Supporter
We know he never actually relinquished control of the team. We just don't know why. Engavest claims they fulfilled their obligations for the handover, Tony/1MRT says they did not. Hence the Administration.

And thanks for the "imbroglio" kudos! I had fiasco written but that one has been overused lately. :)
 

cider_and_toast

Exulted Lord High Moderator of the Apex
Staff member
Premium Contributor
So, for however bad they have been this year, you have to give the team their dues, they managed in the face of almost impossible odds to get out to Gulf and give it a go. They confounded expectations by not retiring both cars on lap one just to claim the start money and managed to get one car to the end of the race.

The one thing they could have done and to be fair I'm somewhat surprised they didn't was the old Toleman trick that they did at the British GP in 83 whereby they half filled the car with fuel so that it was, for a while at least, quicker than almost the whole field.

When all is said and done, Will Stevens (and still no one knows who he is) made a reasonable fist of his first F1 race. He didn't finish outside of the 107 percent rule in any session (though only by a tiny fraction in FP1) and got to within less than a second of his more experienced team mate come race day.

Will the exposure gained from this weekend be enough to attract a backer ?: who knows but as I said, fair play to them for trying. It's just a crying shame Marussia were unable to achieve the same thing.
 
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