Lotus boss believes most F1 teams struggling like Lotus
23 December, 2013
Gerard Lopez, the owner of the Lotus F1 Team, believes that the vast majority of the teams in Formula 1 are currently struggling financially.
Lotus’ problems have had a high profile in 2013, as the Enstone based team thrived with a competitive car but had to deal with reports that it was struggling to pay its drivers, ordinary employees and suppliers.
But the Russian website Formula 1news.ru quoted Lopez as insisting: “For 80 per cent of the teams, their financial situation is no better than ours.
“If half of those teams say they are leaving Formula 1, it would lead to the collapse of the Championship,” he claimed.
Lopez said it is extraordinarily difficult for a team to raise money through investment or traditional sponsorship at present.
“I can go to potential investors and say ‘I want to sell millions of cars running on renewable energy and hybrid technology’ and they tell me ‘Wow! Let’s see what we can do!’
“But if I say that I want money for F1, to participate in one of the biggest sporting events in the world, you don’t get the same answer,” he added. (GMM)
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