(Clement Marin DPPI for Renault Sport F1)
Caterham F1 Team principal Manfredi Ravetto has confirmed that he is longer involved with the Leafield based outfit as fears continue to grow over the future of the team. It emerged late on Wednesday that despite selling the team to a Swiss Middle Eastern consortium in July Tony Fernandes remains in charge of the team.
The Malaysian businessman took to Twitter last night stating:
'If you buy something you should pay for it. Quite simple.' His comments came after the team released a statement on Wednesday to say that they could pull out of Formula One if Mr Fernandes did not immediately transfer shares in the team owed to them.
The team also confirmed that they are considering all options including taking legal action against Mr Fernandes.
Speaking to the BBC, Fernandes labelled the statement from Caterham as 'garbage'. Manfredi Ravetto took over as Caterham Team principal following Christijan Albers departure from the team last month.
Ravetto told Crash.net that he was asked by his direct superiors on Wednesday to stay aside as team boss. He tweeted his farewell to the team on Wednesday evening saying:
'Proud having led such an extraordinary group of people although for just a few weeks!'
Ravetto confirmed that whether or not the Caterham F1 Team are on the grid at next weekend's US Grand Prix in Austin Texas is beyond his control but that he hopes a solution can be found.
© Ben Johnston 2014