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New sponsor for Lotus

The beleaguered Lotus team have announced a new sponsorship deal with Saxo Bank, a Danish investment institution.Although the financial terms of the arrangement are unknown, the news is a welcome and pressure-relieving fillip for the struggling Enstone-based outfit. It was revealed last week that, despite finishing fourth in the Constructors' Championship, the team had accumulated debts in excess of £100m during 2013 and talks had been terminated with the Quantum Motorsport consortium about acquiring a 35% stake. Despite new recruit Pastor Maldonado being attached to significant sponsorship backing, concerns about Lotus's future have heightened this month. The team are to miss the...
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