News Details

Lopez admits to £114m Lotus debt

Lotus chairman Gerard Lopez has revealed that his team is £114m in debt, whilst admitting that talks with Quantum Motorsport are dead and buried.At a time when many are concerned over the team's future, a situation not helped by the news that it will not attend the opening pre-season test, Lopez has opened up in an interview with Germany's Auto Motor und Sport.'We have about £114 million pounds of debt, of which more than £80 million is with ourselves,' he said, referring to Genii Capital. 'But what are we (Genii) going to do, demand repayment of the debt? That makes no sense. 'We are doing this because it is fiscally interesting. We can put the money down to marketing...
Full Story »
2y ago from Pitpass.com 0
Share

You May Also Be Interested In...

Lopez: Quantum money 'never arrived' at Lotus

Lotus F1 Team owner Gerard Lopez has spoken out about the team's...
2y ago from RichlandF1.com

Lotus owner insists all is well despite concerns

Lotus team owner Gerard Lopez has moved to allay fears that the team is...
2y ago from TheF1Times.com

Lopez plays down Lotus collapse speculation

January 15th, 2014 (F1plus/GMM).- Lotus owner Gerard Lopez has moved to...
2y ago from F1Plus.com

Lopez plays down Lotus collapse fears

Lotus owner Gerard Lopez has moved to allay fears the Enstone based team...
2y ago from GrandPrix.com

Elsewhere On The Network

Popular On MGPToday.com

MotoGP: Honda set to struggle in Austria

Honda’s winning streak of recent rounds may well come to a end when...
16h ago from MotorcycleNews.c...

Opinion: Rossi screw-up ends title chances?

To call Sunday’s MotoGP race an unmitigated disaster for the factory...

Lorenzo says Red Bull Ring's Turn 2 "very...

Jorge Lorenzo has voiced concerns with the Red Bull Ring’s Turn 2 ahead...
1d ago from Motorsport.com

Moto2: Who the hell is Luca Marini?

It’s not always the step up in racing to be a member of one of the...

Popular On IndyCarToday.com

VIDEO: Robin Miller, Chip Ganassi reflect on Target

RACER's Robin Miller reflects with Chip Ganassi after the announcement...
5h ago from Racer.com

"What They're Saying" from Honda Indy 200 at...

The Verizon IndyCar Series returned to the country's heartland today for...
9h ago from Motorsport.com

INDYCAR: Rahal open to Funny Car swap with Force

Above (from left): John and Laurie Force, Graham Rahal, Courtney Force....
10h ago from Racer.com

INDYCAR In-Car Theater: Graham Rahal at Mid-Ohio

Take a few laps around Mid-Ohio with Rahal Letterman Lanigan Racing...
9h ago from Racer.com

Popular On TotalWRC.com

Solid start for Hyundai Motorsport as Neuville holds...

A tough but generally trouble-free day for Hyundai Motorsport at the start...
11h ago from Motorsport.com

Veiby on top in Finland Junior battle

Series leader Tempestini holds second
12h ago from WRC.com

Finland WRC: Meeke remains first, Ogier gets stuck

Kris Meeke continued to lead Rally Finland after the five Friday afternoon...
13h ago from Motorsport.com

SS2/3/4: Meeke edges Tänak in Finland

SS2/3/4: Meeke edgesTänak in Finland Kris Meeke and Ott Tänak set a...
1d ago from WRC.com

Popular On GunnersToday.com

Pictures: New away and third kits

Hector Bellerin, Santi Cazorla and Nacho Monreal - along with Freddie...
2h ago from Arsenal.com

Mustafi, Manolas, Varane: 10 centre-backs Arsenal...

TARSPORT take you through the 10 centre-backs Arsenal should target...
3h ago from DailyStar.co.uk

Pictures: Pogba set to join group of players who...

PAUL POGBA is on the brink of rejoining Manchester United for a world...
52m ago from Express.co.uk

World Cup winner wants Arsenal move

Valencia centre-half Shkodran Mustafi wants a move to Arsenal and a deal...

Comments

Hottest News

Recent News

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.