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...
8y ago from FormulaSpy.com
No timeline on Sauber's future "solution" -...
Sauber boss Monisha Kaltenborn says there is no deadline for the deal that...
8y ago from Motorsport.com
Kaltenborn explains Sauber's silence
Despite all the talk of Sauber having found a way out of their financial...
8y 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...
8y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Francesco Bagnaia explains why it's ‘impossible'...
After failing to secure a podium at his Grand Prix at Mugello, Francesco...
1d ago from MotorsportWeek.c...
Aprilia to run “special test” for Jorge Martin...
No description available...
1d ago from Motorsport.com
Watch: “Feels like yesterday” - Alex Criville...
No description available...
1d ago from Motorsport.com
EU approves Liberty Media's purchase of MotoGP and...
Liberty Media has received unconditional approval from the European...
2d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Malukas’ recovery drive secures Foyt’s best team...
During Sunday’s IndyCar race at Road America, David Malukas was the...
1d ago from MotorsportWeek.c...
Winners and Losers from IndyCar’s Road America...
No description available...
2d ago from Motorsport.com
How a “grumpy” Alex Palou ended up thankful for...
No description available...
2d ago from Motorsport.com
IndyCar Road America – Race Results
Road America was the scene of this weekend’s IndyCar event, and high...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Rallies around the world: The ones not to miss – and...
Rallying is unlike any other motorsport. It doesn’t unfold on pristine...
1w ago from MotorsportWeek.c...
Malcolm Wilson appointed as FIA Deputy president for...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
'Arsenal will sign him because he wants to join them'...
Sky Sport journalist Gianluca DiMarzio reckons Arsenal will snap up...
1h ago from SportsKeeda.com
Arsenal agree fee for Brentford captain Norgaard
Arsenal have agreed a fee of £10m plus add-ons to sign Brentford...
1h ago from SkySports.com
The next Haaland? What Sesko would bring to Arsenal
Arsenal are considering a move for Benjamin Sesko this summer but what...
5h ago from SkySports.com
Papers: Arsenal ready to swoop for Palace's Guehi
The top stories and transfer rumours from Wednesday's newspapers...
5h ago from SkySports.com
Comments
Hottest News
Sergio Perez confirms long-standing rumour over Max...
Sergio Perez spent four years at Red Bull... Read More »
3h ago from RacingNews365.com
Stunning £220,000 Ferrari that Jeremy Clarkson 'FAILED a...
A classic Ferrari once owned by Jeremy Clarkson... Read More »
57m ago from GPFans.com
Photos: Brad Pitt drives McLaren F1 car at COTA
Amid the global release of F1 The Movie,... Read More »
2h ago from GrandPrix247.com
