Connect with us

F1 top news

Legal trouble for Lotus F1 co-owner

Published

on

Legal trouble for Lotus F1 co-owner
Lotus’ F1 troubles are continuing for now.

Amid rumours of financial trouble and a potential buyout by Renault, deputy boss Federico Gastaldi said the Enstone team is braced for a Belgian grand prix weekend full of intrigue and “waffle”.

And now the latest piece of bad news has emerged.

Andrew Ruhan, a wealthy property tycoon who is a part-owner and board member of Lotus, is embroiled in legal trouble.

Firstly, his divorce settlement with his wife is expected to be one of Britain’s biggest ever, according to the Sunday Times.

And a deal has reportedly been delayed “because of Ruhan’s involvement in a legal battle with former business partners” over a hotel chain, set to hit the High Court next year.

Ruhan declined to comment.

Gastaldi, however, has played down the financial troubles swirling around Lotus, including reports of disgruntled suppliers.

“Most of the teams have some financial worries,” he is quoted by Speed Week.

“The problem is that unlike Ferrari, Mercedes and Red Bull, we do not sell cars or energy drinks. We finance through other channels, including the prize money and sponsor contributions.

“And at the end the team owner must also bring in money from his own pocket,” Gastaldi added. (GMM)

Comments

Latest Results




Latest F1 News

2019 F12 days ago

Rumours denies zero Honda engine problems so far – Red Bull

Dr Helmut Marko has added his denial to speculation Red Bull is struggling with excessive vibration from the 2019 Honda...

2019 F12 days ago

Renault fast but ‘Red Bull faster’ – Hulkenberg

Nico Hulkenberg says Renault has a fight on its hands to stay fourth in 2019. The German actually ended the...

2019 F12 days ago

Ferrari opponents ‘bluffing’ – Leclerc

Charles Leclerc has played down Ferrari’s new status as the 2019 favourite by saying teams ‘bluff’ in winter testing. After...

2019 F12 days ago

Grosjean criticised change to the tyre rules for 2019 F1

Haas F1 speedy Romain Grosjean has criticised a change to the tyre rules for 2019. Pirelli says teams may no...

2019 F12 days ago

Alonso ‘could’ attend Barcelona second test – McLaren

McLaren says Fernando Alonso will “maybe” be trackside at the Barcelona test next week. Earlier, there was speculation the now...

2019 F12 days ago

Barcelona F1 Test 1 Results – Day 4 Full Results

Nico Hulkenberg sets fastest lap of testing so far; Previously, Alex Albon was fastest for Toro Rosso; Valtteri Bottas follows...

2019 F13 days ago

F1 champs Rosberg, Button to be TV pundits in 2019 season

Two former world champions will regularly be in the F1 paddock in 2019. Nico Rosberg has been signed up to...

2019 F13 days ago

Ferrari advantage ‘at least’ 5 tenths – Tost

Mere days into 2019 winter testing, it appears that Ferrari has a clear advantage. With Sebastian Vettel and Charles Leclerc...

2019 F13 days ago

Barcelona F1 Test 1 Results – Day 3 Full Results

Daniil Kvyat goes fastest for Toro Rosso ahead of morning pace setter Kimi Raikkonen and Daniel Ricciardo. Williams car finally...

2019 F13 days ago

Barcelona F1 Test 1 Results – Day 3 First Half

Kimi Raikkonen sets fastest time for Alfa Romeo Racing ahead of launch break in the third day of testing ;...




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