F1 team Caterham sold to Kolles-led group

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LEAFIELD, England (AP) – Formula One team Caterham has been sold to a group of Swiss and Middle Eastern investors led by former HRT team boss Colin Kolles.

The team announced the sale on Wednesday with immediate effect, meaning Caterham will be under new ownership and management for this weekend’s British Grand Prix.

Former F1 driver Christijan Albers takes over as team principal, assisted by Manfredi Ravetto, replacing Cyril Abiteboul.

Air Asia boss Tony Fernandes founded the team which entered F1 in 2010 under the Lotus name but had warned at the start of this season that he would look to sell if there was no upturn in performance. The team is last in the current standings and has not scored a championship point in five years of racing.

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(478) 745-4141 ext. 310 Tucker Sargent joined the 41NBC news team in April 2012. He hails from "The Great State of Alabama," as he calls it, but you won't catch him saying "Roll Tide!" Tucker grew up near Auburn, before moving to north Alabama. He graduated from Danville High School in 2007 and loves to return to the Tennessee Valley any chance he gets. He moved back south to Troy, Alabama after high school, where he graduated from Troy University in 2011 with a B.S. in Broadcast Journalism. He interned in Huntsville at WAAY-TV before joining 41NBC. His passion is sports, and his favorite teams are the Auburn Tigers and Troy Trojans. On the weekends you can catch Tucker watching college football on Saturdays and NASCAR on Sundays! He's proud to call middle Georgia home for now and could always use a story idea from you, so don't hesitate to get in touch with him!