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

F1 owner Liberty Media set to finalise purchase of...

Formula 1 owner Liberty Media are in talks to buy Madrid-based company...

Popular On IndyCarToday.com

Rosenqvist: Confidence within MSR growing with every...

Felix Rosenqvist has started off his time with Meyer Shank Racing on a...

Popular On TotalWRC.com

Disaster for Hyundai as Lappi and Tänak retire from...

Esapekka Lappi retired his Hyundai i20 N with a broken gearbox in stage...

Popular On GunnersToday.com

Tactics Video: How Kiwior and Jorginho improved...

All of this article is better shown and communicated by video, so I put...
31m ago from FreshArsenal.com

Arsenal will not be signing world class player who is...

According to journalist David Ornstein, Arsenal are now unlikely to try to...
41m 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.