F1 » Fernandes: Group Lotus offer 'would have bankrupted us'


Tony Fernandes concedes that an offer was forthcoming from Group Lotus to end the damaging naming row - but insists that had he taken it, he would have left Team Lotus 'bankrupt'

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ed - Unregistered

February 07, 2011 7:41 AM


Wow! Team Lotus now have Commander Tony and Group Lotus have Sir Jackie!

Now resolve the Lotus vs Lotus conflict with a good old fashioned medieval jousting by loyal soldiers of the Empire, I say!

richard

February 07, 2011 1:21 PM

lotus group offered 10m, so if the offer would have bankrupted malaysia f1, that seems to imply that it was considerably less than what he paid for the "team lotus" name. otherwise, how could he lose? better to have 10m than have nothing at all.

TFIR - Unregistered

February 07, 2011 1:29 PM

@Richard,

That's a poor argument you're making. I don't for a minute think purchasing the rights to Team Lotus would have cost more than 10m. TF is referring to the fact that prize money would be lost if unanimous agreement couldn't be find for a change in chassis name. That's what could bankrupt Team Lotus, so TF is right to hold out for a better deal if he's going to drop the name. He has made a significant investment in the team and should he lose that over a name? Simply put, no.

Alan D - Unregistered

February 07, 2011 1:46 PM

Tfir, don't you think there is something seriously wrong with the sport if a team cannot get its prize money because Becnie has a clause in the contracts which lets him avoid paying out, and it requires the unanimous agreement of other teams to make an exception. It is not even clear if TF has asked the other teams for an opinion on name changes yet or what reasonable grounds they could have for objecting.

richard

February 07, 2011 8:34 PM

tfir. name change means nothing! look at virgin racing, lotus renault etc. anyway, the holding company and name of registry is f1 malaysia, (raced as lotus racing last year) and anyway, they were changing their name this year to "team lotus". so are you saying that they would have lost the money anyway?

Alan D - Unregistered

February 08, 2011 12:53 AM

Sodesu, I think what TF means is that no-one wants to sponsor a 1MRT car. When Group Lotus joined the consortium and agreed to the use of the Lotus name on the car, everyone got interested. Take away the name and the sponsors will ask why they are sponsoring it.

Nefarious - Unregistered

February 14, 2011 1:35 PM

@ Richard, Lotus is only the sponsor of Renault therefore its not a name change its just the addition of the sponsor to the car name, e.g. vodafone in the McLaren name. As to the Virgin racing are you refering the change from Manor to Virgin, they haven't won anything so what have they got to loose from changing name, if you mean Marussia buying a stake in the team, doesn't mean that they have changed the chassis name.

As to the offer no one knows what it entailed so no one can say whether it would bankrupt them.

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