AirAsia Chief Executive Officer Tony Fernandes said he made a mistake by trying to run a Formula One team at the same time as Asia’s largest budget airline. Caterham, the Leafield, England-based team, filed for protection from creditors last week after a proposed sale to Swiss company Engavest SA stalled. Fernandes began managing the team – then known as Lotus – in 2010. He told Sky Sports News he would support efforts to find a new owner. “You have got to know what you are good at and what you are not good at,” Fernandes said. “Racing is over for me.” Marussia, another Formula One team, sought protection on Oct. 27 and will also miss the Nov. 2 US Grand Prix in Austin, Texas. The financial gap between teams was “way too big,” Fernandes said. “The sport has to examine itself.” The biggest teams typically get about 10 times as much as the smallest, according to Xander Heijnen, a partner at CNC Communications & Network Consulting AG in Munich who has advised carmakers about the series. Fernandes said he will remain as co-owner of soccer club Queens Park Rangers, which is second-last in the Premier League ___________________________________________________________________________________________________________________________________________________________ This must be a concern for us. There are some real similarities between owning a club and a racing team. I for one, don't like the comments as listed. " The financial gap between teams was “way too big" “You have got to know what you are good at and what you are not good at" http://www.newsnow.co.uk/A/741502622?-294:802
The amazing thing is it took him four years of finishing last to realise the bleedin' obvious, which means he'll bale out at the end of this season if we're relegated or else he's an even bigger idiot than we all thought...
I was talking to a relative of my wife at a wedding party a few weeks ago who worked there; the financial gap was exactly the way her uncle described it. In a parallel to our first season back in the EPL - they sought to recruit some of the top names in the industry on huge salaries. The analogy goes further "that's ok if you're front if the grid, but not when you're not competing, it's just not sustainable'.
One difference is that he has already won with QPR at Wembley. Hopefully that gives him a taste of things to come.
With all that has been said about the club regarding the proposed fines, TF with quitting formula one .......... l think if we can avoid relegation this year, it will be equal to winning the premiership. The consequences of being relegated could really rip this club apart from all aspects. We can only hope we stay in the PL.
On the positive side, if Teflon Tone gets his way and makes a shed load of money off a property development gamble, we'll be tenants at a music venue. That's if we're lucky. Rock on.
I think the big difference between owning an F1 team and a Prem team is ... There is absolutely no chance of doing anything but finish in the bottom two or three in F1 at which point it becomes boring as there is no hope of anything better. There is hope of finishing higher up the table in the Prem. Not in Champions League spots, but in a very good season nicking a Europa place. (Maybe through a good cup run.) The only chance of Caterham or Marrusia getting points is for the others to crash out or have catastrophic engine failure. There is no way either would ever get a podium place. There is always the chance, however, that QPR could drawer or even win against Man United, Chelsea, Man City. etc. Every year the minnows do occasionally beat the big boys. FFP has bu**ered both sports with the teams that started out with the big bucks voting in a system that prevents others joining them.
I think that is pretty much the way TF described the difference in an interview he gave when he first mentioned caterham's last chance season. And he has already had a taste of that with Wenbley last year, which will stay in the memory for a good few years. But hey, its much more fun hypothesizing catastrophe !!
