News Details
Lotus F1 Team records £56m loss
Lotus F1 Team has recorded a £56m loss in the past year, increasing the pressure on owners Genii Capital and the team as a whole.
The loss is the biggest in Formula One history, dwarfing that of Marussia by £13m, and it comes at a crucial time for the team as they find themselves amidst a fight for both championships.
According to The Telegraph, the loss was made due to Lotus Cars' withdrawal of sponsorship, although the team still runs with the name on its car. In the year ending December 31st 2012, Lotus F1 Team saw a fall in revenue of 19.8%, causing its net loss to widen by £35.9m. This was also caused by the arrival of twenty new staff at Enstone, whilst Kimi Raikkonen's driver...
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10y ago from RichlandF1.com
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