May 19 2013 Latest news:
Thursday, November 8, 2012
QPR chairman Tony Fernandes is to step down as team principal of the Caterham F1 team.
The backmarkers have failed to win a point since joining the sport in 2010 and the Malaysian has chosen his successor to take the team forward.
“On the racing side we have come to the conclusion that it is better if someone else takes over the team principal role to move forward,” Fernandes said.
“We are definitely better at business than finding tenths of seconds around a lap.
“It was right for us to lead the team initially and set a template of how it should be. That vision is now set and the team is ready to move forward to the midfield.”