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 »
2y 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...
2y ago from TheF1Times.com

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

Lopez admits to £114m Lotus debt

Lotus chairman Gerard Lopez has revealed that his team is £114m in...
2y ago from Pitpass.com

Lopez plays down Lotus collapse speculation

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

Elsewhere On The Network

Popular On MGPToday.com

Analysis: How Mugello proved to Vinales Yamaha was the...

Yamaha-bound rider Maverick Vinales is certain he's made the right choice...
2d ago from Motorsport.com

Mugello Expert Opinion: Casey Stoner

Without doubt Andrea Iannone and the Desmosedici GP had the pace to run...

Analysis: Why struggling Honda had to redesign its...

While Honda admits the deficiencies of its new MotoGP engine, the Japanese...
4d ago from Motorsport.com

Yamaha suspects overrevving to blame for engine...

Yamaha overrevved its engines at Mugello, or at least that's the theory...
5d ago from Motorsport.com

Popular On IndyCarToday.com

Follow the Indianapolis 500 live!

No description available...
2h ago from GPUpdate.net

INDY 500: Race Day Live Report

Welcome to RACER.com's Live Report from the 100th Running of the...
2h ago from Racer.com

INDY DIARIES: 'We didn't have 15 engines sitting in...

Over 99 runnings, the Indianapolis 500 has become the most famous event...
2h ago from Racer.com

Motorsport.com Indy 500 driver preview

Motorsport.com's David Malsher (DM) and Nick DeGroot (NDG) preview the...
7h ago from Motorsport.com

Popular On TotalWRC.com

Lydden WRX: Solberg leads Day 1 as Loeb hits trouble

Reigning World Rallycross Champion Petter Solberg leads the way after the...
1d ago from Motorsport.com

The WRC gallery: Round 5: Portugal

Advertising Here is a selection of some of our favourite photographs,...
2d ago from WRC.com

Merzouga, Stage 5: Benavides wins as Rodrigues ends...

Honda's Kevin Benavides took win in the 2016 edition of Merzouga Rally at...
2d ago from Motorsport.com

Camilli buoyed by Portugal result

M-Sport driver reflects on fifth place finish
2d ago from WRC.com

Popular On GunnersToday.com

Arsenal transfer blow: £20m target does not want...

GETTY STAR: Kante was nominated for several awards The 25-year-old joined...
2h ago from DailyStar.co.uk

Arsenal ace desperate to leave club: His agents have...

ARSENAL FC VIA GETTY EXIT: David Ospina is determined to leave Arsenal...
3h ago from DailyStar.co.uk

Newcastle boss ready to play hard ball over £10m...

Newcastle United manager Rafa Benitez is determined to keep in demand...

Spotted: Man Utd and Arsenal stars Walcott and Carrick...

MANCHESTER UNITED and Arsenal stars Michael Carrick and Theo Walcott have...
4h ago from Express.co.uk

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.