Dec 23, 2013, 6:08 PM EDT
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.
Apr 20, 2014, 6:00 PM EDT
Former Red Bull F1 driver finishes third, while Porsche’s GTE-Pro squads finish 1-2 in class.
Apr 20, 2014, 5:10 PM EDT
Trophies and big paychecks are no longer the only things a NASCAR Sprint Cup driver and team get when they win a race. Now they get a big breakfast, too. According to Statesville.com, the Boxcar Grille in Statesville, N.C., has begun serving breakfast to winning teams in the Charlotte area after they return from capturing a Cup race.
Apr 20, 2014, 4:30 PM EDT
Both of their Le Mans Prototypes fail to see the checkered flag at Silverstone due to accidents.
Apr 20, 2014, 4:10 PM EDT
While he probably can’t throw a football more than 20 or 30 yards, Chad Knaus is a diehard Carolina Panthers fan. And while football and stock car racing are polar opposites, they do have some similarities, particularly when it comes to team building, success, strategy and preparation for each game or race. Knaus, a six-time Sprint Cup champion crew chief for Jimmie Johnson, recently called Panthers’ head coach Ron Rivera to throw around and share ideas that might be beneficial to both men.
Apr 20, 2014, 2:49 PM EDT
Hermie Sadler will never be confused with former wrestling greats Hulk Hogan, The Rock, Stone Cold Steve Austin – not even Rik “Wooooo” Flair. But the NASCAR analyst for Fox Sports 1 has been a longtime fan of wrestling and will now become somewhat of a decision maker, too.
Apr 20, 2014, 1:58 PM EDT
Sebastien Buemi, Anthony Davidson, and Nicolas Lapierre take the No. 8 Toyota to the win in the Six Hours of Silverstone.
Apr 20, 2014, 1:07 PM EDT
More than 20 years after graduating, Dale Earnhardt Jr. is going back to school. Well, for at least one day. Earnhardt will take part in a two-hour session on May 8 with two student groups, wrapped around an all-school assembly at Seaman High School in Topeka, Kansas, according to a report in the Topeka Capital-Journal.
Apr 20, 2014, 12:00 PM EDT
We hope your Easter’s filled with family, friends…and maybe some jelly beans.
Apr 20, 2014, 9:45 AM EDT
Finn can only come home in eighth for Ferrari, some 50 seconds behind teammate Fernando Alonso.
Apr 20, 2014, 9:00 AM EDT
Largely unnoticed, these two youngsters were brilliant today in China.
Apr 20, 2014, 8:00 AM EDT
German driver saw no reason to follow team orders, but soon realised that there was no point in holding Ricciardo up.
Apr 20, 2014, 7:15 AM EDT
German driver downbeat after losing to Hamilton yet again, but in the grand scheme of things, it was a great result.
Apr 20, 2014, 6:30 AM EDT
Embarrassing error sees race end on lap 54, not lap 56; Kobayashi the only driver to lose a position.
Apr 20, 2014, 6:15 AM EDT
Ferrari ends torrid week with something to smile about as Alonso finishes third in China.
Apr 20, 2014, 5:47 AM EDT
German driver refuses to let Daniel Ricciardo past at first, but ultimately thinks better of it.
Apr 20, 2014, 5:30 AM EDT
British driver delighted with team effort, and pleased to see teammate Nico Rosberg reach the podium again.
Apr 20, 2014, 4:43 AM EDT
British driver goes wire-to-wire to claim his third straight win and number 25 of his F1 career.
Apr 20, 2014, 2:15 AM EDT
As the Mercedes turf war rumbles on, Red Bull and Ferrari will be waiting in the wings to pick up the pieces.
Apr 20, 2014, 2:00 AM EDT
Here’s how the drivers will line up for the 2014 Chinese Grand Prix today, live on NBCSN and Live Extra from 2:30am ET.
Apr 20, 2014, 1:30 AM EDT
He has come close before, but Hamilton finally can make it three wins in a row today in China.
- VIDEO: Vettel explains decision to not let Ricciardo past 4
- Chinese GP called two laps early after checkered flag mix-up 4
- VIDEO: Vettel ignores team orders, telling team “tough luck” 17
- Hamilton makes it three with lights to flag victory in China 1
- WATCH LIVE: Can anyone spring a Shanghai surprise? 0
- VIDEO: Vettel ignores team orders, telling team “tough luck” (17)
- American-based F1 franchise, Haas Formula, officially introduced (9)
- In re-released interview, Brad Keselowski recalls how Rick Hendrick left him heartbroken (8)
- Maldonado brushes off crash and spin in practice (7)
- Former FIA prez Max Mosley rubbishes F1′s ongoing noise saga (6)