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 »
6mo 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...
6mo ago from Pitpass.com

Lopez hits back at Genii financial reports

Lopez hits back at Genii financial reportsPosted On 19 Aug 2014By :...
6mo ago from ThisIsF1.com

Lopez hits back at Genii financial reports

Gerard Lopez has lashed back at reports suggesting Lotus team owner Genii...
6mo ago from GrandPrix.com

Lopez denies Genii financial troubles

Gerard Lopez Lotus owner Gerard Lopez has lashed back at reports...
6mo ago from GrandPrix247.com

Elsewhere On The Network

Popular On MotoGPToday.com

MotoGP: Intrigue, gossip and rumour

A little of what went on behind the scenes at Sepang
1d ago from BikeSportNews.com

Crash costs Espargaro track time in Sepang

Two crashes blighted Pol Espargaro's week in Malaysia but overall the...
19h ago from MotorcycleNews.c...

Sepang Michelin test ends in fast crashes for front...

The first test of next season’s new MotoGP control Michelin tyres has...

VIDEO: Iannone - The Ducati is fantastic!

Andrea Iannone has high hopes for the 2015 MotoGP World Championship...
2d ago from Crash.net

Popular On TotalWRC.com

Tanak has altitude concerns ahead of Rally Mexico

Ott Tanak says the trickiest element of Rally Mexico is coping with the...
18h ago from Crash.net

Ostberg: My style suits Mexico stages

The León-based gravel rally never drops below an altitude of 1,800...
17h ago from WRC.com

M-Sport column: Back in WRC, back to form

In the latest exclusive M-Sport World Rally Team column on Crash.net for...
16h ago from Crash.net

Evans excited for return to happy hunting ground

Elfyn Evans is hoping to create more happy memories at Rally Mexico after...
1d ago from Crash.net

Popular On GunnersToday.com

Prem: Giroud -- Arsenal chance (27')

SH PREMIER LEAGUE: Olivier Giroud chance (27') Arsenal 0-0 Everton
1h ago from ESPNFC.co.uk

Arsenal boss Arsene Wenger HAILS Olivier Giroud as...

BACK IN FAVOUR: Olivier Giroud put things right for Arsenal [GETTY]...
5h ago from DailyStar.co.uk

Player of the Week: Gabriel

Step back, and again, and again, keep going, one more step. Now step...
5h ago from FreshArsenal.com

Arsene Wenger's Future At Arsenal Under Threat

Reports are out claiming that Arsene Wenger's future at Arsenal is under...
6h ago from Nastytackle.com

Comments

comments powered by Disqus

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.