• Lotus

Lotus adds Saxo Bank as sponsor

ESPN Staff
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Lotus has announced Saxo Bank as a new sponsor as it looks to secure a solid financial package for the coming season.

Despite finishing fourth in the constructors' championship last year, Lotus struggled with financial issues that culminated in lead driver Kimi Raikkonen leaving the team due to missing payments. The Danish bank, which specialises in online trading and investments, joins Lotus as an "official business partner", but according to Reuters has only signed a one-year deal.

"This is a modest step in because we always like to test things out first," Lars Seier Christenesen, Saxo Bank co-CEO told Reuters. "If it works, we'll step it up."

However, Lotus team principal Eric Boullier is confident of a long-lasting partnership.

"We are delighted to begin a relationship with Saxo Bank, a fast-growing online trading and investment specialist who have demonstrated strong support in sport through sponsorships in the world of cycling at the highest level with Team Saxo-Tinkoff," he said. "Saxo Bank are taking an exciting and proactive approach to this new partnership with Lotus F1 Team and we are looking forward to enjoying a long and fruitful relationship."

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