News Details

Lotus owner reveals £114m debt

id="story_continues_1" itemprop="description"> The owner of Lotus has revealed the team have £114m of debt, but insists their future is not in doubt. Gerard Lopez, co-owner of the Genii Capital investment company that runs Lotus, says most of the debt is internal. He added that Kimi Raikkonen, who quit two races before the end of last season because of non-payment, had 'got part of his salary and will get the rest'. Lotus owed Raikkonen 17.15m euros (£14.5m) at the end of the season. Lopez told Germany's Auto Motor Und Sport magazine: 'We have around £114m of debt, of which more than £80m debt is with ourselves (Genii). Why would we demand the repayment of these...
Full Story »
2y ago from BBC.co.uk 0
Share

You May Also Be Interested In...

Lopez admits to £114m Lotus debt

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

Future of Lotus in 'significant doubt' after £170m...

The future of historic British motor marque Lotus has been called into...
2y ago from Pitpass.com

Lotus confirm Quantum over

Lotus owner Gerard Lopez has played down fears about their financial...
2y ago from SkySports.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

Elsewhere On The Network

Popular On MGPToday.com

Randy Mamola: Rossi and Vinales, the friendship with...

In his latest Motorsport.com column, former 500cc star Randy Mamola...
1h ago from Motorsport.com

Iannone fastest in free practice in Italy

Italy's Andrea Iannone of Ducati posted the fastest time following the...
2h ago from SuperSport.com

Iannone loses Ducati ride, Dovizioso extends contract

Ducati have decided to part ways with Andrea Iannone to make room for...
2h ago from SuperSport.com

Rabat set for Barcelona return

Tito Rabat will make a return to the MotoGP championship this weekend at...

Popular On IndyCarToday.com

Rossi earns $2.5m for Indy 500 win

Andretti Autosport’s Alexander Rossi earned $2,548,743 from an overall...
2h ago from Motorsport.com

Video: Indianapolis 500 race highlights

No description available...
4h ago from GPUpdate.net

INDY 500: Rossi earns $2.54 million for winning 100th...

Alexander Rossi earned $2,548,743 from an overall purse of $13,273,253...
4h ago from Racer.com

Rossi revels in 'life-changing' Indy500 win

– Alexander Rossi says that victory at the Indianapolis 500 will...
3h ago from GPUpdate.net

Popular On TotalWRC.com

Debut date set for new Hyundai

Advertising The Dutchman, who has conducted all the car’s testing this...
3h ago from WRC.com

New Citroën leaves drivers grinning

Meeke, Breen and Lefebvre left with banana smiles
6h ago from WRC.com

Available now: WRC Regroup podcast

New edition available to download
1d ago from WRC.com

Lydden WRX: Solberg leads Day 1 as Loeb hits trouble

Reigning World Rallycross Champion Petter Solberg leads the way after the...
3d ago from Motorsport.com

Popular On GunnersToday.com

It's a travesty! Fans react as Jack Wilshere is...

JACK WILSHERE has been confirmed in the final England squad and fans are...
2h ago from Express.co.uk

Arsenal could capitalise on Euro giants' firesale with...

According to reports from Gazzetta dello Sport, Inter Milan will be...

Arsenal Loan Review: Which Gunners could make the step...

EXPRESS SPORT takes a look at how Arsenal's 15 loanees got on this season,...
5h ago from Express.co.uk

Barcelona join Grzegorz Krychowiak hunt?

Barcelona have reportedly entered the running to sign Sevilla midfielder...
2h ago from SportsMole.co.uk

Comments

Hottest News

Ericsson crashed deliberately in Monaco

A Brazilian F1 correspondent claims Sauber driver... Read More »
6h ago from ThisIsF1.com

Ferrari in crisis trumpet Italian media

Ferrari has gone from targeting Formula 1 title... Read More »
7h ago from GrandPrix247.com

Kvyat considering Red Bull exit

Toro Rosso driver Daniil Kvyat has confirmed that... Read More »
3h ago from PlanetF1.com

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.