SBD Global/July 18, 2014/Franchises

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  • Caterham F1 Team Continues Overhaul As Unnamed New Owner Calls Cuts 'Necessary'

    Caterham F1 Team on Thursday confirmed a "number of new appointments," according to MOTORSPORT. Christijan Albers is now team principal, supported by GM & Team Principal Manfredi Ravetto. Simon Shinkins has also joined the team as COO. Miodrag Kotur was named team manager. Michael Willmer is the new director of legal affairs and Gianluca Pisanello has been promoted to head of trackside engineering. John Iley is now technical director, leading the work being done to improve the '14 car and the '15 "new car project" (MOTORSPORT, 7/17). In London, Kevin Eason reported a "despondent" Caterham team is preparing for the German Grand Prix despite "new owners" laying off 40 people. A statement from the "mysterious owners, whose identity has still not been revealed," said that the job cuts were "a necessary step." Driver Alexander Rossi "was given his marching orders earlier in the week as Colin Kolles, said to be a consultant to the consortium of Swiss and Arab investors, wielded the axe." The "redundancies were no surprise, particularly as Kolles has a ​reputation as ​a ​man who runs a lean ship." However, speculation "runs high that this is the first stage to packaging up the team for transport to Germany, where Kolles is established." He is known to have "potential backers in Romania and F1 wonders whether the dark green of Caterham could be replaced next season by a new Romanian badge" (LONDON TIMES, 7/17).

    Print | Tags: Franchises, Europe
  • NRL Parramatta's Hefty Payments To Departed Players Limiting Cap Flexibility

    National Rugby League side Parramatta is "shelling out" more than A$750,000 ($702,000) this season to players that are "no longer at the club, contributing to a salary cap nightmare they admit leaves their hands tied when attracting big-name recruits to Pirtek Stadium," according to Chris Barrett of the SYDNEY MORNING HERALD. The situation on the club's books is "grim and with no overnight fix." As a result of "bogus recruitment and retention decisions and back-ending of contracts, the Eels have only 21 players in their top-25 NRL roster and have no room to move" under the A$6.3M ($5.9M) salary cap. The scenario is "no brighter for next year, with the Eels already projected to be over" the increased A$6.55M ($6.13M) top-tier cap, a position which left them "unable to re-sign veteran centre Willie Tonga and with no option but to offload" Jacob Loko, who has been "injury ravaged and had off-field issues" (SMH, 7/17).

    Print | Tags: Franchises, Australia
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