Gerard Lopez has lashed back at reports suggesting Lotus team owner Genii is in dire financial health.
The Luxembourg newspaper Tageblatt reported recently that Genii, headed by Lopez and his business partner Eric Lux, is recording ever-growing losses and debts.
Britain's Independent newspaper said Lopez, although based in Luxembourg, flew in his private jet to Genii's London headquarters to "put the record straight".
"It's absurd to say that Genii has financial problems," he insisted. "Yes, Lotus has lost money, like every other F1 team in the world."
Lopez said the Enstone based team cost Genii "about EUR 50 million" last year and debt is currently...
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