Connect with us

2014 F1

Lotus F1 owner’s losses, debts continue to worsen – report

Published

on

lotus-logo-f1-profile_3053454
Alarming news about the financial health of Lotus team owner Gerard Lopez has emerged.

Together with Eric Lux, fellow Luxembourger Lopez heads the investment company Genii Capital, which owns the Enstone based team.

After finishing a strong fourth in the last two constructors’ world championships, Lotus is currently a mere eighth after a particularly difficult first half to the 2014 campaign.

And according to the Luxembourg newspaper Tageblatt, the financial news is even worse.

Accounts just filed with the commercial register for 2012 show an annual loss of almost EUR 53 million, with company equity listed as minus EUR 128 million.

The report said that just one year ago, the loss was only 55 million, while total debt is now shown at a whopping EUR 185 million.

Tageblatt also claims that although company filings are due no later than seven months after the end of the financial year, Genii only filed the accounts for 2011 and 2012 in mid-July of this year.

The accounts for 2013 have not yet been filed. (GMM)

Comments

Latest Results




Latest F1 News

2018 F12 days ago

Ricciardo is not happy with Verstappen, It’s a risk – Massa

Felipe Massa says he can understand why Daniel Ricciardo decided to quit Red Bull. Ricciardo, one of F1’s top drivers,...

2018 F13 days ago

Stroll leads Force India rescue deal

Force India has been rescued by a consortium led by Lawrence Stroll, the billionaire father of Williams driver Lance Stroll....

2018 F15 days ago

Giovinazzi targeting 2019 Sauber race seat

Antonio Giovinazzi admits he has an eye on a Sauber seat for 2019. Ferrari’s other protege, Charles Leclerc, is linked...

2018 F15 days ago

Stroll should leave Williams now – Villeneuve

Jacques Villeneuve thinks Canadian countryman Lance Stroll should leave Williams immediately. Stroll’s billionaire father Lawrence is leading the consortium that...

2018 F11 week ago

Alonso could leave F1 for 2019 Indycar – McLaren boss

Zak Brown has admitted it is possible Fernando Alonso will leave McLaren and F1 for the Indycar series in 2019....

2018 F11 week ago

World to leave Michael Schumacher ‘in peace’ – Todt

Jean Todt has called for the world to leave F1 legend Michael Schumacher “in peace”. The condition of the seven...

2018 F11 week ago

Niki Lauda on road to recovery after lung transplant and coma

Niki Lauda looks to be on the road to recovery. The F1 world was in shock last week when it...

2018 F11 week ago

Villeneuve plays down ‘Hamilton-Jesus Christ’ comparison

Jacques Villeneuve has played down quotes that suggested he thinks Lewis Hamilton behaves like Jesus Christ. The quotes spread like...

2018 F11 week ago

Too early to assess F1 2019 wing – Kubica

Robert Kubica says it’s too early to assess the effectiveness of the new front wings for 2019. Several teams, including...

2018 F11 week ago

Norris waiting on Alonso’s decision for 2019 F1

Lando Norris says it is up to McLaren to decide if he will make his F1 debut in 2019. The...




Most Popular

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV, Formula One World Championship Ltd or any other organization or entity associated with the official Formula One governing organizations or their shareholders. Copyrighted material used under Fair Use/Fair Comment.

References
We could use the following leading F1 news sources for stories: SkyF1, BBC F1, Autosport, ESPN F1, FIA Media Center, MotorSport, JamesAllen and others leading authors blog.

All Rights Reserved © 2017 Prime Sport Media