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

MotoGP: Intrigue, gossip and rumour

A little of what went on behind the scenes at Sepang
2h ago from BikeSportNews.com

Sepang Michelin test ends in fast crashes for front...

The first test of next season’s new MotoGP control Michelin tyres has...

VIDEO: Iannone - The Ducati is fantastic!

Andrea Iannone has high hopes for the 2015 MotoGP World Championship...
1d ago from Crash.net

Miller: We need to work on saving tyres

Jack Miller's promotion to MotoGP has set tongues wagging up and down the...
23h ago from MotorcycleNews.c...

Popular On TotalWRC.com

Evans excited for return to happy hunting ground

Elfyn Evans is hoping to create more happy memories at Rally Mexico after...
1h ago from Crash.net

Ogier: Pressure on rivals to catch up

World Rally Championship leader Sebastien Ogier says the pressure is...
4h ago from Crash.net

Rally Mexico: Sky-high round for the DS 3 WRCS

At close to 2,800 metres above sea level, the Citroën Total Abu Dhabi...
22h ago from Motorsport.com

Rally Mexico: Event timetable

Complete event timetable for Rally Mexico, the third round out of 13 in...
20h ago from Crash.net

Popular On GunnersToday.com

Arsenal need ‘bouncebackability' after Monaco...

‘Bouncebackability' is a term that was coined by Iain Dowie, and...
9h ago from AllArsenal.com

Arsene Wenger: You can't blame Olivier Giroud

Olivier Giroud unquestionably had one of his worst games in an Arsenal...
6h ago from AllArsenal.com

REVEALED : Arsene Wenger 'Hurt' By Monaco Humiliation

It has been reported that Arsenal boss Arsene Wenger admits their...
52m ago from Nastytackle.com

REVEALED: Arsenal Players Have Never Seen Wenger So...

Reports are out claiming that Arsenal boss Arsene Wenger steamed into his...
9h ago from Nastytackle.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.