F1 »

Lotus works on boosting budget

Lotus F1 goes on the hunt for additional backing as is prepares for entry into the 2010 F1 season
The new Lotus F1 team is still hunting for sponsorship for its debut season in F1 in an effort to increase its chances of being successful in 2010.

According to a report by Reuters, Lotus is operating on a start-up capital of less than $50 million – way below the budget of some of the established teams on the grid.

Despite insisting it had the funds needed to compete when its entry into the sport was revealed, Lotus is now seeking to bring in extra money to ensure it can survive in F1.

Various corporate bodies are expected to be approached to help support the venture, including those with links to the Malaysian government, which has an involvement in the project but is believed to hold no equity in the team.

"What is wrong with asking for sponsors from GLCs like Petronas?" team director Kamarudin Meranun was quoted by the Bernama news agency. "If Petronas [a long-term backer of BMW-Sauber] can sponsor a foreign F1 team, why should the national petroleum company not sponsor a local team?"

Meranun added that the team's costs were likely to be reduced by the fact that a number of foreign-based Malaysian engineers had expressed interest in working for the team and were prepared to work for lower pay. Over 6,500 applications are reported to have been received for 225 posts.

Tagged as: 2010 , Lotus , Lotus F1

Related Pictures

Click on relevant pic to enlarge
Lotus logo [Pic credit: Group Lotus plc]
Alfonso Celis Jr, Force India, F1 [Credit: Force India]
15.11.2015 - Race, A Ferrari fan
15.11.2015 - Race, Max Verstappen (NED) Scuderia Toro Rosso STR10
15.11.2015 - Race, Nico Rosberg (GER) Mercedes AMG F1 W06 waves to the fans
15.11.2015 - Race, Felipe Nasr (BRA) Sauber C34 leads Jenson Button (GBR)  McLaren Honda MP4-30.
15.11.2015 - Race, Daniil Kvyat (RUS) Red Bull Racing RB11 leads Sebastian Vettel (GER) Scuderia Ferrari SF15-T
15.11.2015 - Race, Felipe Nasr (BRA) Sauber C34
15.11.2015 - Race, Kimi Raikkonen (FIN) Scuderia Ferrari SF15-T
15.11.2015 - Race, Daniil Kvyat (RUS) Red Bull Racing RB11 leads Lewis Hamilton (GBR) Mercedes AMG F1 W06
15.11.2015 - Race, Pastor Maldonado (VEN) Lotus F1 Team E23
15.11.2015 - Race, Romain Grosjean (FRA) Lotus F1 Team E23
15.11.2015 - Race, Kimi Raikkonen (FIN) Scuderia Ferrari SF15-T and Fernando Alonso (ESP) McLaren Honda MP4-30
15.11.2015 - Race, William Stevens (GBR) Manor Marussia F1 Team and Nico Hulkenberg (GER) Sahara Force India F1 VJM08
15.11.2015 - Race, Sergio Perez (MEX) Sahara Force India F1 VJM08 and Daniel Ricciardo (AUS) Red Bull Racing RB11
15.11.2015 - Race, Valtteri Bottas (FIN) Williams F1 Team FW37
15.11.2015 - Race, Fernando Alonso (ESP) McLaren Honda MP4-30
15.11.2015 - Race, Sebastian Vettel (GER) Scuderia Ferrari SF15-T

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.

Fool-basher - Unregistered

November 13, 2009 4:49 PM

Powerline 2008. What a foolish low shot, Malaysia as I know it could teach us a thing or two about ethics, as for Lotus F1 why not sit back and give them a chance whats your problem dont you like the new world order.....

WSBR - Unregistered

November 13, 2009 11:59 PM

Pompous.......Complete Idiot "2 bit individuals from a 3rd world country" What an Idiot you are making statements like yours dont you know we live in the 3rd world country you fool, you have obviously never travelled past your comfort zone, Malaysia, Kuala Lumper makes our poor little island look just that, how can you write about motor sport in such a bigoted way you are a bigoted fool..FOOL.........

© 1999 - 2015 Crash Media Group | Built by Accelerate Agency

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.