Dec 23, 2013, 6:08 PM EST
Lotus chairman Gerard Lopez (pictured) has told a Russian website that he believes most of the Formula One paddock is dealing with financial issues, declaring that “for 80 percent of the teams, their financial situation is no better than ours.”
The cost of doing business in the world’s most popular motorsport has become a very big problem to the smaller teams. A cost cap is set to debut in 2015, but considering the amount of spending that is done by the bigger teams like World Champion Red Bull, one may have the sense of “I’ll believe it when I see it” when it comes to that initiative.
This past year, Lotus was in the headlines for its money woes as they were for Kimi Raikkonen and Romain Grosjean’s exploits on the track. However, Lopez noted to F1News.ru that with the global economy still limping along, teams have been forced to abandon the usual investment/sponsorship route.
“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!,” he said to the Russian site.
“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.”
And with that comes the side effect of choosing drivers on the amount of funding they bring to the table instead of on pure talent.
Lotus can certainly relate, as team principal Eric Bouiller has said that Pastor Maldonado’s extensive sponsorship played a role in him gaining their second race seat alongside Grosjean in 2014.
Nov 21, 2014, 5:32 AM EST
The world championship leader edges out teammate Nico Rosberg in the final FP1 session of the year.
Nov 21, 2014, 3:45 AM EST
First practice from Abu Dhabi is live on Live Extra from 4a ET today.
Nov 20, 2014, 8:29 PM EST
Joey Logano on a turnaround and breakout season.
Nov 20, 2014, 6:37 PM EST
After a month of voting and more than 350 ballots cast by their peers on all Sprint Cup teams, the top pit crew members and overall pit crews of 2014 were announced Thursday.
Nov 20, 2014, 5:56 PM EST
The No. 17 Roush Fenway Racing team dodged a bullet Thursday when NASCAR announced less severe than expected penalties for unapproved rear suspension parts found last weekend at Homestead.
Nov 20, 2014, 4:24 PM EST
All the latest from the ground in Abu Dhabi from NBCSN’s Will Buxton in this week’s “Paddock Pass.”
Nov 20, 2014, 4:18 PM EST
TV times, title outlooks for this weekend’s Abu Dhabi Grand Prix.
Nov 20, 2014, 4:00 PM EST
Big night of F1 on NBC from 7 p.m. ET.
Nov 20, 2014, 3:09 PM EST
If you like wild, crazy and unpredictable, you won’t want to miss Thursday’s edition of NASCAR America, airing LIVE at 5 pm ET on NBCSN.
Nov 20, 2014, 2:31 PM EST
In this edition of NASCAR Minute, Rick Allen and Kyle Petty talk about the wackiest things they saw this race season.
Nov 20, 2014, 2:30 PM EST
After his departure from Ferrari was announced today, Alonso drops the biggest hint yet that he will be driving for McLaren in 2015.
Nov 20, 2014, 2:21 PM EST
What would the final 2014 NASCAR Sprint Cup point standings look like if there had been no Chase format? Would Kevin Harvick still have finished No. 1? You might be surprised.
Nov 20, 2014, 1:00 PM EST
New paint scheme for Danica Patrick’s No. 10 in 2015.
Nov 20, 2014, 12:00 PM EST
Gunning for his second world championship, Hamilton can be sure of the title by finishing second in Abu Dhabi – but will the pressure get to him?
Nov 20, 2014, 11:35 AM EST
How will Will Stevens’ debut go? He’s in a rare spot, making an in-season debut.
Nov 20, 2014, 11:00 AM EST
A few little things to look out for during this weekend’s race in Abu Dhabi.
Nov 20, 2014, 10:45 AM EST
Kasey Kahne’s arrival shouldn’t change the arrival of Chase Elliott at Hendrick Motorsports, but it may change the date.
Nov 20, 2014, 10:30 AM EST
Mexican driver admits trying to take a step down out of a race seat for 2015 is a risk, but feels it is the best move for his future.
Nov 20, 2014, 10:15 AM EST
Matthew Brabham replaces Charles Pic in FE this weekend.
With Vettel, Alonso, Mercedes and Renault all on the move, Abu Dhabi will mark the end of an era in F1
Nov 20, 2014, 10:00 AM EST
Ferrari, McLaren, Red Bull and Lotus will be very different teams in 2015.
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