News Details

Lotus confirm Quantum over

Lotus owner Gerard Lopez has played down fears about their financial future and also confirmed that attempts by Quantum Motorsport to take a stake in the team have failed.Speaking to Germany's Auto Motor Und Sport, Lopez revealed that Lotus had amassed a total of £114million in debt last year, of which around £80million was owed to Lopez's company Genii Capital. That money has been accounted for as "marketing expenses" with the Enstone team now relying on backing provided by Venezuelan state oil company PDVSA, which sponsors new recruit Pastor Maldonado. Concerns about Lotus's future have heightened in recent weeks, with the team announcing their intention to miss the...
Full Story »
1y ago from SkySports.com 0
Share

You May Also Be Interested In...

Lotus owner insists all is well despite concerns

Lotus team owner Gerard Lopez has moved to allay fears that the team is...
1y ago from TheF1Times.com

Lopez: Quantum money 'never arrived' at Lotus

Lotus F1 Team owner Gerard Lopez has spoken out about the team's...
1y ago from RichlandF1.com

Lopez admits to £114m Lotus debt

Lotus chairman Gerard Lopez has revealed that his team is £114m in...
1y ago from Pitpass.com

Lopez plays down Lotus collapse speculation

January 15th, 2014 (F1plus/GMM).- Lotus owner Gerard Lopez has moved to...
1y ago from F1Plus.com

Elsewhere On The Network

Popular On MotoGPToday.com

Team bosses react to #RossiVsMarquez

Massimo Meregalli and Livio Suppo give their views on the dramatic final...
13h ago from MotoGP.com

Rossi still wary of Marquez title threat

Valentino Rossi says that Saturday’s Dutch TT victory was his most...
10h ago from Motorsport.com

MotoGP Race Director talks Rossi, Marquez incident

MotoGP Race Director Mike Webb has explained exactly why the last corner...
2d ago from Crash.net

#RossiVsMarquez: The calm before the storm

From the moment he topped Thursday’s opening practice session, Rossi...
16h ago from MotoGP.com

Popular On IndyCarToday.com

IndyCar: 'Insane' race spurs critics, supporters

Several leading IndyCar drivers including Juan Pablo Montoya, Will Power...
1d ago from Racer.com

RACER Video: Robin Miller's message to IndyCar boss...

The RACER Channel's Robin Miller unloads on an empty house at Auto Club...
1d ago from Racer.com

IndyCar: Rahal ends win drought in Fontana's tense...

Graham Rahal ended a streak of 125 IndyCar races without a win in a...
2d ago from Racer.com

High-intensity pack racing infuriates some, enthralls...

The 500-mile contest at Auto Club Speedway provided some spectacular...
2d ago from Motorsport.com

Popular On TotalWRC.com

Blast-off for WRC's summer of speed

After three consecutive rough-road rallies, the pace will hot up for...
12h ago from WRC.com

Speed king Mikkelsen targets Østberg

Volkswagen ace eyes second place in the standings
14h ago from WRC.com

Allow Seb Ogier to brighten up your Sunday

As you probably know by know, I am a fan of Sebastien Ogier and what (and...

Can he Kubica it under control?

Robert Kubica, that guy, yeah, if only he could somehow combine speed,...

Popular On GunnersToday.com

Arsenal star Kieran Gibbs and twin brother Jaydon all...

Kieran Gibbs has been enjoying the last few days of his summer holiday...
1h ago from DailyMail.co.uk

Arsenal appoint ex-Huddersfield physio

In a statement on their official website, Huddersfield Town have...
7h ago from News.ArseBlog.com

Report: Arsene Wenger keen to sign William Carvalho

Arsenal manager Arsene Wenger has reportedly turned his attention to...
1h ago from SportsMole.co.uk

Arsenal transfer rumours: Arturo Vidal breaks down in...

Arsenal's signing of Petr Cech has got Gooners understandably excited....
10h ago from TalkSport.com

Comments

comments powered by Disqus

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.