News Details

Lotus reveals £64m loss

Days after team owner Gerard Lopez dismissed talk of financial problems at Lotus, 2013 accounts reveal a £64m loss for Enstone outfit.According to a report in Forbes, the loss is the result of inter-company loans and the interest accrued. End of year accounts for 2013 reveal that though revenue remained stable at £92.6m ($154.1m), net losses increased by £9.6m ($16m) as interest payments on the inter-company loans increased to £13.5m ($22.6m).Talking to the Independent at the weekend, Lopez, whose private equity firm Genii Capital controls Lotus, said: 'We support Lotus with debt, not sponsorship like the other big teams”. This is confirmed by the fact that...
Full Story »
9y ago from Pitpass.com 0
Share

You May Also Be Interested In...

Lopez dismisses talk of Lotus financial problems

Whilst admitting that his team has lost money, Lotus owner Gerard Lopez...
9y ago from Pitpass.com

Lopez hits back at Genii financial reports

Lopez hits back at Genii financial reportsPosted On 19 Aug 2014By :...
9y ago from ThisIsF1.com

Lopez hits back at Genii financial reports

Gerard Lopez has lashed back at reports suggesting Lotus team owner Genii...
9y ago from GrandPrix.com

Lopez denies Genii financial troubles

Gerard Lopez Lotus owner Gerard Lopez has lashed back at reports...
9y ago from GrandPrix247.com

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

Pourchaire to make IndyCar debut in Long Beach with...

Arrow McLaren has announced that the reigning Formula 2 champion Theo...

IndyCar's new Aeroscreen makes early debut at Long...

The NTT IndyCar Series will have teams fit a new version of the Aeroscreen...

Popular On TotalWRC.com

Popular On GunnersToday.com

Arsenal eye Alexander Isak and Michael Olise in search...

t;li>Club’s owners ready to back Mikel Arteta in transfer...
54m ago from TheGuardian.com

Pundit points fingers at three Arsenal players for...

Ally McCoist has pointed fingers at three Arsenal players for their...
54m ago from CaughtOffside.com

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.