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 22, 2014, 12:00 PM EDT
The FIA WEC headed to Texas this weekend. Here are some thoughts on how it went down.
Sep 22, 2014, 11:15 AM EDT
Both the TUDOR Championship and Continental Tire SportsCar Challenge put on a show in Austin this weekend.
Sep 22, 2014, 10:21 AM EDT
Audi 1-2 leads FIA WEC winners at COTA.
Sep 22, 2014, 10:00 AM EDT
Reliability woes have left Nico Rosberg reeling. If he doesn’t respond at Suzuka, it could be game over.
Sep 22, 2014, 9:00 AM EDT
German driver does well to keep his anger in check in his post-race video blog.
Sep 22, 2014, 8:00 AM EDT
Vijay Mallya delighted as Force India makes 2014 its most successful season since entering F1 back in 2008.
Sep 22, 2014, 7:00 AM EDT
Lewis Hamilton has put himself back in control of the 2014 F1 world championship after a great win in Singapore as teammate Nico Rosberg retired.
Sep 21, 2014, 8:43 PM EDT
Millen scores his second win of 2014, while YouTube icon Block takes an 18-point lead in the championship with two races left in the season.
Sep 21, 2014, 7:51 PM EDT
Tony Schumacher (Top Fuel), Courtney Force (Funny Car), Dave Connolly (Pro Stock) and Andrew Hines (Pro Stock Motorcycle) were the winners in Sunday’s final rounds of the NHRA FallNationals in Ennis, Texas.
Sep 21, 2014, 7:00 PM EDT
The talented rookie continues to duel with the Chasers at New Hampshire before finishing second to Joey Logano.
Sep 21, 2014, 6:36 PM EDT
As the Chase for the Sprint Cup moves to Dover for next Sunday’s third race of the playoffs, nine drivers will be fighting elimination by vying for five advancement spots there.
Sep 21, 2014, 6:09 PM EDT
Brad Keselowski started from the pole, led the second-most number of laps in the race (78), overcame a late wreck and still almost won Sunday’s Sylvania 300 at New Hampshire Motor Speedway.
Sep 21, 2014, 5:49 PM EDT
Prior to last week’s opening race of the Chase for the Sprint Cup, Kevin Harvick said it would take wins and uncanny consistency to advance to the final four, winner-take-all battle in the season-ending race at Homestead.
Sep 21, 2014, 5:36 PM EDT
The Connecticut native joins Penske teammate Brad Keselowski in the Contender Round with his victory at New Hampshire Motor Speedway.
Sep 21, 2014, 5:13 PM EDT
Kenseth was running in the Top 10, when Paul Menard washed up into him and sent him spinning into the wall with 31 laps to go at New Hampshire.
Sep 21, 2014, 4:38 PM EDT
Kurt Busch had a tire rub on his Haas Automation Chevrolet when the right front tire appeared to blow on Lap 222 of the 300-lap Sylvania 300 at New Hampshire Motor Speedway, sending him hard into the wall and suffering right front end damage.
Sep 21, 2014, 4:20 PM EDT
Several drivers in the Chase for the Sprint Cup suffered damage to their respective race cars in a wreck that involved Matt Kenseth, Kyle Busch, Kasey Kahne and Ryan Newman with just over 100 laps to go in Sunday’s Sylvania 300 at New Hampshire Motor Speedway.
Sep 21, 2014, 4:00 PM EDT
4 p.m. ET – Already several laps down, Hamlin was caught in a multi-car crash that also involved Martin Truex Jr., David Ragan, and Cole Whitt.
Sep 21, 2014, 3:42 PM EDT
Kevin Harvick is the halfway leader of Sunday’s Sylvania 300 at New Hampshire Motor Speedway. Joey Logano is running second, followed by Jeff Gordon, Brian Vickers and Jamie McMurray.
Sep 21, 2014, 3:00 PM EDT
Spanish driver still pleased with the race weekend in Singapore, feeling that Ferrari has made a step forwards.
Video from NASCAR America
- Joey Logano avoids “yellow fever,” wins at N.H. to advance in Chase 2
- Wreck involves several Chase drivers; Keselowski spins, suffers minor damage 1
- Rosberg reflects on a tough day in Singapore (VIDEO) 2
- Reports: 2015 Sprint Cup rules package expected to be released on Tuesday 2
- Hamilton rules in Singapore to re-take championship lead as Rosberg retires 1
- Rosberg forced to retire in Singapore after electrical glitch 2
- Brendan Gaughan takes lead with 6 laps to go, wins Nationwide at Kentucky 0