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 27, 2014, 8:46 PM EST
NHRA team owner Don Schumacher underwent surgery Wednesday for early-stage skin cancer.
Nov 27, 2014, 8:04 PM EST
NASCAR star Kyle Busch and wife Samantha dropped a very big hint that their first child may be a boy.
Nov 27, 2014, 7:28 PM EST
IndyCar driver Graham Rahal and NHRA driver Courtney Force announced their engagement Thursday in Venice, Italy.
Nov 27, 2014, 5:57 PM EST
Police continue to investigate the cause of death of Theresa Benn, who had been missing more than a month before her body was found last week near Talladega Superspeedway.
MST exclusive: BK Racing co-owner Anthony Marlowe apologizes for Cole Whitt/David Ragan tweet controversy
Nov 27, 2014, 3:23 PM EST
BK Racing minority owner Anthony Marlowe offers a public apology to MotorSportsTalk on his inadvertent tweet of Cole Whitt replacing David Ragan in the No. 34 car for 2015.
Nov 27, 2014, 2:16 PM EST
Steve Byrnes of Fox Sports gave friends and family a promising Thanksgiving update about his battle with Stage 4 head-and-neck cancer.
Nov 27, 2014, 10:45 AM EST
Hulkenberg gets an LMP1 opportunity with Porsche at Spa and Le Mans next season.
Nov 27, 2014, 9:00 AM EST
What we’re thankful across the wide spectrum of motorsports in 2014.
Nov 26, 2014, 11:01 PM EST
If you’re in the Charlotte area and want to have a great Black Friday experience, head on over to Charlotte Motor Speedway, where for a donation, you can drive on the actual racetrack.
Sam Hornish Jr. has much to be thankful for: new home, renewed Sprint Cup hopes with Richard Petty Motorsports
Nov 26, 2014, 8:56 PM EST
Sam Hornish Jr. has a lot to give thanks for this Thanksgiving, most notably a new ride and a new lease on his Sprint Cup driving life with Richard Petty Motorsports.
Nov 26, 2014, 4:40 PM EST
NBCSN will present a 14-hour ‘Mecum Marathon’ starting Thursday, Thanksgiving Day.
Nov 26, 2014, 2:30 PM EST
Simon Pagenaud’s Indy 500 Senna tribute helmet to be auctioned for Ayrton Senna Foundation.
Nov 26, 2014, 2:29 PM EST
Front Row Motorsports officials on Wednesday denied rumors of Cole Whitt replacing David Ragan in the No. 34 Ford for 2015.
Nov 26, 2014, 1:58 PM EST
Record cable numbers for F1 on NBCSN this season.
Nov 26, 2014, 1:00 PM EST
A rundown through the field after the final day of on-track running for F1 2014.
Nov 26, 2014, 12:30 PM EST
Some NASCAR AMERICA specials are on tap before the end of the year.
Nov 26, 2014, 12:00 PM EST
Marciello gracious for opportunity, and was thinking of Jules Bianchi throughout the day.
Nov 26, 2014, 11:30 AM EST
A.J. Foyt with post-operative complication, but resolved.
Nov 26, 2014, 11:13 AM EST
New Mercedes driver, same place on the charts to close out 2014 F1 season.
Nov 26, 2014, 10:31 AM EST
What’s next for Jean-Eric Vergne? An analysis of his time in F1, and where to from here.
Video from NASCAR America
- IndyCar’s Graham Rahal, NHRA’s Courtney Force engaged 3
- Police seek cause of death of race fan found near Talladega 0
- MST exclusive: BK Racing co-owner Anthony Marlowe apologizes for Cole Whitt/David Ragan tweet controversy 0
- What we’re thankful for in the motorsports world, 2014 1
- Sam Hornish Jr. has much to be thankful for: new home, renewed Sprint Cup hopes with Richard Petty Motorsports 5
- NBCSN’s F1 coverage delivers best ever single-season numbers for a cable network 6
- Mercedes reserve Wehrlein leads final Abu Dhabi test day to end 2014 0