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Lotus 'no worse off than 80% of teams'

ESPN Staff
December 23, 2013 « Kovalainen still hopes for Formula One seat | New Jersey GP up for grabs »
Lotus insists it is still financially on track © Sutton Images

Lotus boss Gerard Lopez has told a Russian website that the majority of Formula One teams are struggling to make ends meet.

The comments come at the end of a season where his team were dogged by money problems amid rumours it was unable at times to pay drivers and other employees, claims which were vigorously denied at the time by Lopez.

Russian website f1news.ru quoted Lopez as saying: "For 80% of the teams, their financial situation is no better than ours. If half of those teams say they are leaving Formula One, it would lead to the collapse of the championship."

He said the more traditional routes of investment or sponsorship were hard in the current financial climate, hence the reason for so many drivers being selected on the strength of the backing they bring with them.

"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!' 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."