Caterham in trouble as owners squabble

Caterham F1 has entered fresh turmoil after a team statement criticised former owner Tony Fernandes and threatened legal action against him.

Meanwhile, office workers have been locked out of the teams Oxfordshire site today after the company made an “inadequate offer” to continue working there.

Caterham Sports Limited entered administration a couple of days ago and their administrators remain in talks with the site’s owner, Smith & Williamson.

These events have put the team’s future in serious doubt, with many predicting that they won’t even race again this season.

The cars that they intend to race in Austin are currently in the site which they are licked out of. If they don't ship them out this weekend, they are highly unlikely to race.

Tony Fernandes Caterham F1 Team boss

Former owner Tony Fernandes will release a statement today denying the teams claims that he has not complied with his legal obligations.

He sold the team in June to an anonymous company who has now been named as Swiss firm, Engavest.

However, the team claims that Engavest is not legally the owner, despite them funding the team for the past three months, as Fernandes has failed to transfer the shares of the team to them.

Engavest has threatened legal action against Fernandes and says they may quit the team.

They say: "Mr Fernandes remains the owner of Caterham F1 and is fully responsible for all it's activities."

Fernandes responded on twitter, saying: “If you buy something you should pay for it. Quite simple.”

Sources in the team say the dispute surrounds promises that Engavest made to Fernandes and whether they have kept to them. He is likely to say that they haven’t.

Engavest says they have "...fulfilled all all the conditions precedent, including paying the purchase price for the shares."

F1 chief Bernie Ecclestone says he is trying to save the team.

He told BBC Sport: "We're trying to help in any way we can, which we do with anybody who has run into a bit of difficulty."

He also added: "I'd rather not lose the teams."

Kamui Kobayashi

This is the latest incident in a disastrous few weeks for the team.

A few weeks ago, bailiffs took parts from their Oxford factory.

And driver Kamui Kobayashi maintains that he was ordered to stop driving in the Russian Grand Prix to save money.

The team faces a race against time to get cars to Austin for the next weekends United States Grand Prix.

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