Speculation swirls around Fernandes' Caterham team

Fri Jun 27, 2014 7:08pm EDT
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By Alan Baldwin

(Reuters) - Caterham owner Tony Fernandes triggered speculation about the future of his tail-end Formula One outfit on Friday after declaring "F1 hasn't worked" on Twitter before closing his account.

The team have not scored a point in various guises since entering the sport in 2010 and the Malaysian said in January that he could quit if they did not show signs of improvement.

If anything they have gone backwards since, rooted to the bottom of the standings while rivals Marussia, who also entered in 2010 as Virgin Racing, scored their first ever points in Monaco in May.

There have been plenty of rumors about Fernandes' Formula One intentions with Caterham issuing a statement in May to deny the group of companies that includes the team was for sale.

While Fernandes seems to have remained keen on the niche sportscar company, there has been increasing speculation about the team being hived off.

Indian racing driver Karun Chandhok, a reserve for Caterham in 2012 when they were known as Team Lotus, could see reasons for that.

"You can understand why he's sort of fallen out of love with F1 because they haven't scored a point in five years," he told Sky Sports television.