News Details

Lotus records £64 million loss during 2013

The Lotus F1 Team has recorded losses of £64 million during the financial year of 2013 according to its latest accounts. The losses come just days after team co-owner Gerard Lopez dismissed talk of financial problems at the Enstone outfit. A report in Forbes states the loss is a result of inter-company loans between the team's owner, Genii Capital, and the interest accrued on those loans. The 2013 accounts show that revenue was stable at £92.6m ($154m), but net losses rose by almost £10m ($16m) as interest payments increased to £13.5m ($22.5m). The increase in interest payments is down to the fact loans to the company have almost doubled to £125m ($208m),...
Full Story »
8mo ago from TheF1Times.com 0
Share

You May Also Be Interested In...

Lotus reveals £64m loss

Days after team owner Gerard Lopez dismissed talk of financial problems...
8mo ago from Pitpass.com

Lopez hits back at Genii financial reports

Lopez hits back at Genii financial reportsPosted On 19 Aug 2014By :...
8mo ago from ThisIsF1.com

Lopez dismisses talk of Lotus financial problems

Whilst admitting that his team has lost money, Lotus owner Gerard Lopez...
8mo ago from Pitpass.com

Tobacco company plays down Lotus rumours

Imperial Tobacco has played down reports it is looking to return to...
8mo ago from GrandPrix.com

Elsewhere On The Network

Popular On MotoGPToday.com

Rossi off to best start since 2009

It's six years since Valentino Rossi last led the world championship...
12h ago from MotorcycleNews.c...

Title contenders look forward to Jerez

The Spanish Grand Prix at Jerez looks set to be one of the key milestones...
12h ago from MotorcycleNews.c...

Marquez on track with his fans

The MotoGP world champion lets off steam on track with some of his most...
14h ago from MotoGP.com

Pramac boss puts faith in ‘unlucky’ Hernandez

Pramac Racing team manager Francesco Guidotti says he trusts Yonny...
17h ago from Crash.net

Popular On IndyCarToday.com

IndyCar: Honda teams seek 'sweet spot'

Don't miss a thing at the Honda Indy Grand Prix of Alabama. Get the new...
14h ago from Racer.com

IndyCar: Age and experience leading the way so far in...

Don't miss a thing at the Honda Indy Grand Prix of Alabama. Get the new...
7h ago from Racer.com

Regalia will not race with Comtec at Aragon

Facu Regalia will not be racing in the opening round of the Formula...
17h ago from Motorsport.com

Three IndyCar teams fined after Long Beach

KV, Foyt and CFH hit with penalties. INDYCAR announced the following...
1d ago from Motorsport.com

Popular On TotalWRC.com

Meeke with good lead in Argentina

Kris Meeke completes the first full day of Rally Argentina with a...
7h ago from Crash.net

Mikkelsen retires en-route to SS4

Volkswagen Motorsport II pilot Andreas Mikkelsen has retired from Rally...
10h ago from Crash.net

MINI ALL4 Racing with Nasser Al-Attiyah secures win at...

MINI ALL4 Racing takes top two podium places and continues to lead 2015...
6h ago from Motorsport.com

SS3: Latvala slashes Meeke's lead

SS3: Latvala slashesMeeke's lead Jari-Matti Latvala climbed into second...
12h ago from WRC.com

Popular On GunnersToday.com

Arsenal 'must buy players to avoid becoming nearly-men'

Jamie Carragher has warned Arsenal manager Arsene Wenger that he must add...
3h ago from SportsMole.co.uk

Chelsea may be favourites to beat Arsenal but don't...

Chelsea may be favourites to beat Arsenal but don't underestimate Arsene...
5h ago from DailyMail.co.uk

Wenger happy to alter style

And Wenger reckons a variation in his team's style of play will help them...
6h ago from Football365.com

Arsenal v Chelsea: Jose Mourinho mocks Arsene Wenger...

Jose Mourinho has bluntly dismissed Arsène Wenger’s claim that it...
5h ago from Telegraph.co.uk

Comments

comments powered by Disqus

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.