News Details
Lotus F1 suffered huge financial loss before takeover
© WRI2
Recently published accounts have revealed that the Lotus F1 team, then owned by Gravity Motorsports and its affiliate Genii Capital, sustained a huge £57 million loss at the end of 2015. The main culprit of the team's reduced turnover and the subsequent loss, which increased from approximately £5.75 in 2014, was a substantial decrease in sponsorship according to the company's official report. Lotus also claimed that cost of sales fell by £11m, as a result of "the difficult season and associated budgetary constraints faced by the company during the year up until the takeover". The company noted however that "the financial statements shows a positive movement in...
Full Story »
Full Story »
You May Also Be Interested In...
Nasr calls for Sauber upgrades following financial...
Felipe Nasr has called on the Sauber team to pursue car developments to...
9y ago from FormulaSpy.com
No timeline on Sauber's future "solution" -...
Sauber boss Monisha Kaltenborn says there is no deadline for the deal that...
9y ago from Motorsport.com
Kaltenborn explains Sauber's silence
Despite all the talk of Sauber having found a way out of their financial...
9y ago from PlanetF1.com
Wehrlein: Getting noticed at Manor is difficult
Pascal Wehrlein has indicated he wants his Formula 1 career to step up a...
9y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Aprilia’s MotoGP advantage not due to special rear...
No description available...
14h ago from Motorsport.com
Why WorldSBK leader Nicolo Bulega could miss out on a...
Rumours surrounding Nicolo Bulega and a possible move to MotoGP in 2027...
18h ago from MotorsportWeek.c...
Renovations begin at Goiania after MotoGP's...
No description available...
19h ago from Motorsport.com
Why Alex Marquez has been struggling in MotoGP this...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar: A closer look at Mick Schumacher's true pace
No description available...
7h ago from Motorsport.com
Will Power's father okay after wrestling with armed...
No description available...
11h ago from Motorsport.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
1w ago from Motorsport.com
Winners and losers from IndyCar at Barber Motorsports...
No description available...
1w ago from Motorsport.com
Popular On TotalWRC.com
Hyundai continues to honour Craig Breen's memory
Hyundai Shell Mobis World Rally Team will run a special livery at this...
16h ago from MotorsportWeek.c...
Hyundai unveils Craig Breen tribute livery for WRC...
No description available...
18h ago from Motorsport.com
Storm damage forces changes to WRC Rally Islas...
No description available...
4d ago from Motorsport.com
Kalle Rovanpera returns to WRC with Subaru
Double WRC Champion Kalle Rovanpera is set to return to the WRC next year...
6d ago from MotorsportWeek.c...
Popular On GunnersToday.com
BBC reporter reveals what Martin Odegaard was seen...
Arsenal captain Martin Odegaard was seen engaged in a lengthy and animated...
4h ago from CaughtOffside.com
Is 'underestimated' Raya the best goalkeeper in the...
Kai Havertz declared David Raya the best goalkeeper in the world after his...
4h ago from SkySports.com
Arteta admits Arsenal had point to prove after ‘big...
t;li>Havertz goal offers response after back-to-back defeatsArteta...
5h ago from TheGuardian.com
'Give him his flowers', 'Decided to be Messi today' -...
Arsenal fans online were all praise for Gabriel Martinelli's performance...
5h ago from SportsKeeda.com
Comments
Hottest News
Why Horner and Newey split, why Red Bull are in crisis and...
It was one of F1's greatest ever partnerships as... Read More »
6h ago from GPFans.com
'Welcome to paradise': Inside F1 star's incredible new...
Ah, the life of a Formula 1 driver. Yes they have... Read More »
7h ago from GPFans.com
F1 champion 'did a Verstappen' and kicked top BBC insider...
A former F1 world champion has opened up on a... Read More »
8h ago from GPFans.com
