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.
Jul 22, 2014, 8:33 PM EDT
Time has not lessened the significance of winning at Indy for these three NASCAR standouts.
Jul 22, 2014, 7:13 PM EDT
The Outlaw returns to Indianapolis for the first time since his Indy 500-Coke 600 double back in May.
Jul 22, 2014, 5:54 PM EDT
The Team Penske pilot is putting up his six-bedroom Miami penthouse for a cool $14 million. Better start saving up…
Jul 22, 2014, 4:10 PM EDT
Seeking to catch up with their Ford stablemates at Team Penske, Roush Fenway Racing’s trio of Carl Edwards, Greg Biffle, and Ricky Stenhouse Jr. have been searching for speed in a two-day test session at Michigan International Speedway.
Jul 22, 2014, 3:00 PM EDT
The new, 92-foot pylon is made up of four LED panels capable of video animations that relay race info to fans.
Jul 22, 2014, 2:00 PM EDT
Recapping the future stars of IndyCar in action at Toronto this weekend.
Jul 22, 2014, 1:47 PM EDT
A report from Mexico says that Bernie Ecclestone has signed a five-year pact to bring F1 to Mexico City’s Autodromo Hermanos Rodriguez starting next season.
Jul 22, 2014, 1:00 PM EDT
A miserable home weekend in Toronto strikes James Hinchcliffe yet again.
Jul 22, 2014, 12:41 PM EDT
Williams’ deputy team principal on Massa: “He is mature enough – and has enough experience in the sport – to realize that sometimes, things don’t go your way.”
Jul 22, 2014, 11:55 AM EDT
Given politics, dates and dreams, could an IndyCar race at CTMP be possible?
Jul 22, 2014, 11:30 AM EDT
Ex-F1 shoe Jerome d’Ambrosio gets signed up for new FE series.
Jul 22, 2014, 11:00 AM EDT
Kyle Larson’s got a new house, a new kid on the way and now a new Cottonelle ad he might not be able to live down.
Jul 22, 2014, 10:08 AM EDT
Mercedes’ Toto Wolff calls double points “unfair.”
Jul 22, 2014, 9:25 AM EDT
MST’s Tony DiZinno recaps the weekend in Toronto, that featured a host of surprises.
Jul 22, 2014, 8:26 AM EDT
The stretch of six races in four weekends is over, as is the stretch of doubleheader weekends for the 2014 Verizon IndyCar Series season. Here’s the points breakdown.
Chase Elliott keeps winning, but he’s not finished capturing checkered flags this season by any stretch
Jul 22, 2014, 1:38 AM EDT
With the third win of his rookie Nationwide Series career, Chase Elliott continued to make it look easy in this past Saturday night’s EnjoyIllinois.com 300 at Chicagoland Speedway.
Jul 21, 2014, 8:05 PM EDT
For Wallace and his Truck Series rivals, racing on dirt presents a different set of challenges – and thus requires a different way to train.
Jul 21, 2014, 7:01 PM EDT
In a satellite radio interview, France shared his thoughts on the consortium of NASCAR’s most powerful teams.
Jul 21, 2014, 6:02 PM EDT
Jack Hawksworth will co-drive the No. 08 Prototype Challenge car for RSR Racing in Friday’s IMSA event on the Indianapolis Motor Speedway road course.
Jul 21, 2014, 5:10 PM EDT
Between his Eldora Speedway hosting the Truck Series and then competing at Indianapolis this weekend in Sprint Cup, Stewart’s in the middle of a busy week.
- Report: Toto Wolff speaks out against F1′s double points finale 2
- IndyCar: Toronto weekend analysis, musings and observations 0
- NASCAR’s Brian France on RTA’s formation: “We didn’t think it was necessary” 12
- Eldora and Indy putting a lot on Tony Stewart’s plate 0
- Todd Gilliland, 14, outdistances father David, grandfather Butch in first time they’ve all raced together 0