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Tony Fernandes Sells Caterham GP2 Team To Owner Of Status Grand Prix

Malaysian aviation entrepreneur Tony Fernandes has "followed up the sale" of the Caterham F1 team by "offloading his GP2 outfit to Canadian-based businessman Teddy Yip's Status Grand Prix," according to Alan Baldwin of REUTERS. The sale will see Caterham Racing, which "competes in the feeder series to Formula One, leave the Caterham F1 factory in central England and relocate to Silverstone before being renamed next season." Yip: "We have always had the ambition to move further up the motorsport ladder when the time is right." He added in a statement, "The opportunity to take over an established and highly-regarded GP2 team such as Caterham Racing, allied to a strong season in GP3, makes that time now." Fernandes sold his F1 team in July to a "secretive consortium of investors but kept the GP2 operation, which shared the same factory" (REUTERS, 10/17). SKY SPORTS' William Esler reported with Status "also taking on the personnel employed by Caterham Fernandes hopes the team's long-term future has been secured." Fernandes: "This announcement is very positive for us and Status Grand Prix" (SKY SPORTS, 10/17).

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