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 »
1y 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...
1y ago from Pitpass.com

Lopez hits back at Genii financial reports

Lopez hits back at Genii financial reportsPosted On 19 Aug 2014By :...
1y ago from ThisIsF1.com

Lopez hits back at Genii financial reports

Gerard Lopez has lashed back at reports suggesting Lotus team owner Genii...
1y ago from GrandPrix.com

Lopez denies Genii financial troubles

Gerard Lopez Lotus owner Gerard Lopez has lashed back at reports...
1y ago from GrandPrix247.com

Elsewhere On The Network

Popular On MGPToday.com

Opinion: Rossi screw-up ends title chances?

To call Sunday’s MotoGP race an unmitigated disaster for the factory...
20h ago from MotorcycleNews.c...

Espargaro: "I'm far from the level I should be...

Aleix Espargaro has said he is not "at all" pleased with his...
15h ago from Motorsport.com

MotoGP: Cecchinello ‘We needed that finish’

LCR Honda team boss Lucio Cecchinello admitted to MCN after last...
18h ago from MotorcycleNews.c...

Video: Go for a multicamera Red Bull Ring lap with...

Estrella Galicia’s Jack Miller takes you for a multicamera lap of the...
15h ago from BikeSportNews.com

Popular On IndyCarToday.com

Dixon’s Ganassi team ready to take more risks

Scott Dixon's Chip Ganassi Racing-Chevrolet engineer says the team is...
3h ago from Motorsport.com

Supercars not keen on February Gold Coast date

Supercars is “unlikely” to shift its Gold Coast event from its current...
1h ago from Motorsport.com

Schmidt Peterson files lawsuit against Enerson

RC Enerson, due to make his IndyCar debut with Dale Coyne Racing this...
13h ago from Motorsport.com

INDYCAR: 'I enjoy downforce cars more' - Frijns

Robin Frijns gave his Andretti Autosport team plenty to think about after...
10h ago from Racer.com

Popular On TotalWRC.com

Finland countdown: the route

The same. But better.
10h ago from WRC.com

Hyundai solves Sordo crash cause

Nandan confident suspension issue is sorted
11h ago from WRC.com

OlsbergsMSE won't field GRC-spec Honda Civic in Canada...

Swedish World Rallycross team OlsbergsMSE will not field its Honda Civic...
16h ago from Motorsport.com

Aravind relieved to complete Baja Aragon in first...

Aravind KP says he is pleased to have finished the Baja Aragon rally in...
19h ago from Motorsport.com

Popular On GunnersToday.com

Wenger on Mertesacker and Lacazette

Arsène Wenger discussed Per Mertesacker's injury, transfers,...
2h ago from Arsenal.com

Arsenal train in the United States

It's the Arsenal squad's first full day in United States - and they held...
3h ago from Arsenal.com

England should have beaten Iceland but we were just...

England should have beaten Iceland but we were just not good enough......
4h ago from DailyMail.co.uk

How is your team performing in pre-season?

As Premier League teams clock up over 170,000 miles this pre-season, check...
4h ago from BBC.co.uk

Comments

Hottest News

Hamilton "not an easy teammate", says Alonso

Rosberg lost the championship lead to Hamilton in... Read More »
18h ago from Motorsport.com

Sainz: McLaren's rate of development "worrying"

Sainz finished eighth in Hungary, a place behind... Read More »
12h ago from Motorsport.com

Another dawn, another load of clap trap

Pity the poor man charged with debunking the... Read More »
5h ago from Pitpass.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.