Caterham profits treble despite lacking winning formula

Caterham profits treble despite lacking winning formula

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This is thanks in part to a major sponsorship deal with American industrial giant GE, which pays the firm an estimated $15 million (£9 million) annually. Caterham’s turnover is mainly


derived from the management fees it receives from its Malaysian parent company, which in turn gets its income from sponsors such as GE. The accounts also show that Caterham took out a £5.3


million loan from Export-Import Bank of Malaysia, part of which was used to invest in a new plant and machinery. The team is based in Prime Minister David Cameron’s constituency of Witney


and is part-owned by Malaysian Tony Fernandes who celebrates his home race at today’s Malaysian Grand Prix. Since Caterham joined the sport in 2010, Fernandes and his co-owners have put an


estimated $219.5 million (£132 million) into the team. However, as Caterham has yet to win a race or score a point, Fernandes and his partners have the dubious distinction of investing more


money in an F1 team without success than anyone else in the history of the sport. Fernandes is also a major shareholder in Championship football club Queens Park Rangers.