Caterham F1 team nearing the end

Kobayashi Caterham

The Caterham F1 team looks set to be sold following extensive uncertainty over its future.

Owner Tony Fernandes has appeared close to quitting the sport for several months, first issuing a warning in January that the team needed results in 2014 to keep him involved.

But with nearly half the season gone Caterham remain pointless and look no closer to progressing up the grid.

Fernandes was recently forced to deny that the team was up for sale, but it has been clear for some time that he would listen to offers.

He has now deleted his Twitter account, signing off by saying “F1 hasn’t worked,” and discussions are believed to be underway with potential Russian buyers. It has also been reported that current Caterham team principal Cyril Abiteboul will move to Renault's engine HQ in Viry, France.

The buyers' exact identity remains unclear, though the team’s Leafield base and ready-to-race staff make Caterham a fairly attractive prospect so long as money can be spent making it more competitive.

Fernandes also owns a GP2 squad which could continue to run should the F1 team be sold, with the financial outlay involved significantly less than Formula One.

Malaysian-born Fernandes made his money in the aviation industry and also owns English football club Queens Park Rangers, who recently returned to the Premier League following a season in the second tier.