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.
Sep 1, 2014, 1:25 AM EDT
The result beats her previous high water mark of seventh this past May at Kansas.
Sep 1, 2014, 1:10 AM EDT
HAMPTON, Ga. — It was a rough night for a number of drivers in Sunday’s Oral-B USA 500 NASCAR Sprint Cup race at Atlanta, including Kevin Harvick, Clint Bowyer and Marcos Ambrose.
Sep 1, 2014, 12:43 AM EDT
Matt Kenseth enters the post-season with a second place result, while Clint Bowyer finds himself outside the Chase Grid going into next Saturday’s regular season finale.
Sep 1, 2014, 12:14 AM EDT
HAMPTON, Ga. – Kasey Kahne’s 17th career Sprint Cup win couldn’t have been any larger.
Aug 31, 2014, 10:07 PM EDT
HAMPTON, Ga. – It was not the comeback that Tony Stewart had hoped for.
Aug 31, 2014, 9:45 PM EDT
Tony Stewart’s return to competition tonight at Atlanta Motor Speedway has encountered some trouble after a restart run-in with “Rowdy.”
Schumacher (TF), Hagan (FC), Line (PS), Krawiec (PSM) ones to beat in Monday’s NHRA U.S. Nationals finals
Aug 31, 2014, 9:08 PM EDT
Following Sunday’s final round of qualifying, Tony Schumacher (Top Fuel), Matt Hagan (Funny Car), Jason Line (Pro Stock) and Eddie Krawiec (Pro Stock Motorcycle) will lead their respective classes as No. 1 qualifiers for Monday’s final eliminations of the 60th annual Chevrolet Performance U.S. Nationals.
Aug 31, 2014, 7:28 PM EDT
HAMPTON, Ga. — There was no question which driver received the most applause and cheers during driver introductions prior to the start of Sunday night’s Oral-B USA 500 at Atlanta Motor Speedway.
Aug 31, 2014, 7:00 PM EDT
Rush Truck Centers’ CEO: “We stand with Tony.”
Aug 31, 2014, 5:34 PM EDT
Matt Kenseth can clinch a spot in the post-season with a finish of seventh or better in tonight’s race at Atlanta Motor Speedway.
Aug 31, 2014, 4:25 PM EDT
HAMPTON, Ga. — Atlanta Motor Speedway will honor longtime Atlanta-area broadcaster and motorsports reporter “Capt. Herb” Emory, who passed away in April at the age of 61, prior to Sunday’s Oral-B USA 500 NASCAR Sprint Cup race.
Aug 31, 2014, 4:09 PM EDT
Ryan Blaney uses a cross-over move on German Quiroga in the final corner and then beats him to the stripe, winning the Chevrolet Silverado 250.
Aug 31, 2014, 2:15 PM EDT
The 9-time U.S. Nationals champion dispatches Richie Crampton in the final of the Traxxas Shootout with a track-record speed of 328.54 mph.
Aug 31, 2014, 1:45 PM EDT
The legal wranglings following the sale of the team look set to continue.
Aug 31, 2014, 12:30 PM EDT
Former FIA president believes Mercedes made a mistake hanging its dirty laundry out for all to see.
Aug 31, 2014, 11:00 AM EDT
Not the best start to life with Red Bull for the young Dutchman.
Aug 31, 2014, 10:00 AM EDT
Marquez claims win number 11 of his remarkable sophomore year in Moto GP.
Aug 31, 2014, 9:00 AM EDT
Australians stick together, right?
Aug 31, 2014, 7:30 AM EDT
Australian touring car series will not be returning to Austin in 2015 as originally planned.
Aug 31, 2014, 4:00 AM EDT
Will Power’s brother Damien provides raucous, hilarious commentary as Will drove towards the Verizon IndyCar Series title.
Video from NASCAR America
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- Kasey Kahne rallies in last 2 laps to win at Atlanta, makes Chase 0
- Tony Stewart’s comeback hopes end with rough 41st-place finish at Atlanta 0
- Tony Stewart the obvious fan favorite during pre-race introductions at Atlanta 1
- Still searching: Castroneves finishes 14th, falls short of IndyCar title (VIDEO) 1
- Will Power claims 2014 IndyCar title as Tony Kanaan ties season win record in Fontana 1
- Dale Earnhardt Jr. on Tony Stewart’s return to racing: ‘I’m sure that’s where he wants to be’ 0