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.
Dec 19, 2014, 10:37 AM EST
Party like it’s 1996 in 2015 – Panis and Herta sons signed to deals.
Dec 18, 2014, 9:51 PM EST
It lasts only four months, but there’ll be lots of action on the schedule for the 2015 NASCAR Canadian Tire Series.
Dec 18, 2014, 9:26 PM EST
Ricky Stenhouse Jr. will be slinging some pre-Christmas dirt this Saturday in an all-star sprint car race in DuQuoin, Ill.
Dec 18, 2014, 8:50 PM EST
One of Kurt Busch’s sponsors has joined team owner Gene Haas in backing the driver in his ongoing dispute with ex-girlfriend Patricia Driscoll.
Dec 18, 2014, 6:31 PM EST
Want to have a good laugh or two? Check out all of the bloopers and behind-the-scenes fun from NASCAR America over this past year.
Dec 18, 2014, 6:18 PM EST
NASCAR announced that a Camping World Truck Series crew member has been suspended for violating the sanctioning body’s substance abuse policy.
Dec 18, 2014, 6:00 PM EST
RoC, Mecum, and two F1 “Road To:” specials make for motors block on NBCSN tonight starting at 7 p.m. ET.
Dec 18, 2014, 4:15 PM EST
Will Power is a closet breakdancer? Who knew? Find out in the latest edition of The Penske Files.
Dec 18, 2014, 4:00 PM EST
Sauber’s 2015 car is the second to pass crash test.
Dec 18, 2014, 3:28 PM EST
No Franchitti in 2015 as CGR announces Rolex 24 lineup.
Dec 18, 2014, 2:30 PM EST
Penske’s newest star to head to NFL’s biggest game.
Dec 18, 2014, 2:21 PM EST
Darrell Wallace Jr. joins Roush Fenway Racing.
Top NASCAR stories of 2014: No. 13 – Chase Elliott wins final Nationwide Series championship at record age
Dec 18, 2014, 2:00 PM EST
In less than one year, Chase Elliott went from the driver of a start-up team to the youngest champion in NASCAR history.
Dec 18, 2014, 1:00 PM EST
Almirola broke into the Chase for the Sprint Cup with a rain-shortened win at Daytona in the summer.
Dec 18, 2014, 12:45 PM EST
The engineer market is busy in F1, as well.
Dec 18, 2014, 12:00 PM EST
Kasey Kahne struggled at times in 2014, but there’s great promise for 2015 with a new contract, new crew chief and an extension from his primary sponsor.
Dec 18, 2014, 11:46 AM EST
Di Montezemolo and Walsh now part of F1’s controlling shareholder Board of Directors.
Dec 18, 2014, 11:11 AM EST
Menards stays with RCR’s XFINITY program.
Dec 18, 2014, 10:30 AM EST
Second SPM IndyCar seat up for grabs.
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