Quote:
Originally Posted by EastonNeston
Yes, Flavio, Joe Saward is a non-executive director of the Caterham group, with no direct involvement, or influence, over the F1 team. He is also a highly respected & very reputable journalist who reports on the sport & the business very well and honestly.
Both Malaya & Roy are facing serious legal issues, as well as very serious financial issues, & whilst the f1 team may have funding in place for this season if, when, the parent companies collapse there is no way the F1 team will survive unless new ownership can be found.
The fact that several suppliers are been asked to vary previously agreed payment terms & schedules would suggest cash-flow issues within the F1 team.
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You seem to be unaware that the responsibility of non-executive directors includes keeping a watching brief over the activities of all the companies under the main company's umbrella, and in this case that would in the racing team. Saward may have extensive pedigree when it comes to motor racing, but I am unsure of his qualifications to make comments about a competitor's finances.
Malaya and Roy may face difficulties in India over their business practices, but certainly in the case of Roy, the alleged offence that is being investigated covers an amount of some tens of millions of pounds sterling whilst his businesses are worth billions of pounds of which he is personally a major benefactor. I believe that even if he lost the case against him, it would be no more than a ripple in his financial pond.