Tony Fernandes should measure clothes to his own size and not waste Malaysians’ time and most of all, hopes, for not going into the Formula One racing team ownership and operation in the first place.
The pro-Anwar news portal story:
Tony Fernandes regrets buying Formula One team
Published: 30 October 2014
Tan Sri Tony Fernandes expressed regret over running a Formula One team, saying it was a big mistake in doing that while at the same time managing Asia’s leading low-cost airline.
The AirAsia chief executive officer was quoted by news agency Bloomberg today as saying: “You have got to know what you are good at and what you are not good at. Racing is over for me.”
Caterham, the struggling England-based racing outfit, filed for protection from creditors after a sale to Swiss company Engavest SA failed to materialise.
Fernandes started managing the team in 2010, but failed to take it to pole position.
He said the financial gap between teams was too big, and that the sport had to examine itself.
Bloomberg reported him telling Sky Sports News he would support efforts to find a new owner.
The news agency reported that 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.
Fernandes told Bloomberg that his move to sell Caterham did not affect his standing with Queens Park Rangers.
He said he will remain as co-owner of the club, which is second-last in the Premier League. – October 20, 2014.
It was purely chewing more than one could chew. Fernandes was just selling something that he very well knew he could not do it. He did not have the means, nor knowledge.
Yet he did it.
He was also banking on the fact that national oil corporation, Petronas, to come in and support him with the dough at the time when he was selling the team as ‘1 Malaysia Racing Team’.
When that failed too, he had to scrooge what ever pittance he has left over from his low-of-the-rung Queen’s Park Rangers football team, which did very poorly to remain in the premier league and eventually was relegated to barclays premier.
Fernandes singularly in a very short time manage to bastardise the ‘Caterham’ brand in several single strokes. The tried to prostitute the brand for a regional charter jet business, which did not take off despite the idea mooted back in 2010.
In short, pretentious-accented Fernandes proven himself in a very short time he cocked things up. Why? He over-sold, he had no substance, his ideas are deffective, he entered into the ill-intent to milk Petronas and Proton for money and fund his project.
It was about getting a few parties paying up for Fernandes to promote his brand at international level, in big time. He wanted to cross sell his ‘Tune’ brand, purely at the expense of corporations footing the bill for the expensive F1 to remain in the year-after-year most coveted international motorsports event.
What is very pathetic, Fernandes blaming the professional F1 teams for the failure of his half-baked-low-caste team.
Daily Mirror story:
Tony Fernandes says F1’s big teams must shoulder the blame for Marussia and Caterham’s financial woes
Oct 29, 2014 19:44 By Byron Young
With Marussia and Caterham both set to miss the US Grand Prix, Fernandes has pointed the finger at the likes of Ferrari and Red Bull
Mark Thompson Blame game: F1 giants like Ferrari and Red Bull are hoovering up all the cash, says Fernandes
Tony Fernandes blasted F1’s big teams over the sport’s crisis as two teams went into administration, reports Byron Young in Austin.
Marussia and Caterham are both missing both Sunday’s US Grand Prix and the race in Brazil seven days later after going into administration.
Critics have said too much of the prize fund is sucked up by the sport’s leading names like Ferrari and Red Bull.
While both those operations get at least a £80 million golden ticket just for competing, the tail-enders are trying to do an entire year on a totally unsupported £40m.
They are not the only ones in trouble: Lotus and Sauber have had financial problems.
And even legendary names like McLaren have spent over a year looking for a title sponsor.
Fernandes sold Caterham in June to a shadowy consortium headed by Romanian dentist Colin Kolles.
Now he has ruled out stepping in to save Caterham and over 150 jobs that are on the line.
And it said the time was right for the sport to take a long hard look at itself.
“People can blame whoever, but the big teams are as much at fault as anyone. The gap has become way too big and it’s money,” he said.
GettyCaterham F1 Testing in Jerez – Day OneAdministration: Fernandes’ former team Caterham are in severe financial trouble
“And so I thought, ‘Well, I can’t compete’. But I can compete at QPR; I can compete at Air Asia,” he said.
“Rather than continue something where I thought, one, I wasn’t able to give it as much time as possible, two, I thought we were on a beating to none anyway, you’ve got to be brave and say ‘Look, we screwed up. You can’t compete; you thought you could and time to leave’.
“The sport has to examine itself as well. Ultimately we couldn’t carry on and we would have eventually gone into administration anyway or closed down the team.”
Fernandes even suggested someone may follow Red Bull’s example and buy one a second team.
“There may even be teams within F1 who want a second team – a Red Bull/Toro Rosso situation,” he added.
“So we’ll give it maximum support but it’s not something I want to get involved in anymore.
“You’ve got to know what you are good at and what you are not good at.
“Unless I give up everything else and became a Ron Dennis. What a scary thought. No, Ron is great at what he does. He does it 100 per cent.
“You’ve got to immerse yourself in it. so racing is over for me.”
Now, it seems he has some issues about his deal of the sale of the Caterham Team.
Unusually, this is really low for a much celebrated entrepreneur. However, when the F1 team is all the while low caste in spirit, philosophy, ability and operations, then it is befitting.