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Lotus confirms ‘full budget’ for F1 2014

Lotus F1 chairman Gerard Lopez promises team will be on the grid in 2014 despite ending talks with Quantum Motorsports.
Lotus insists that it will be on the F1 grid this season, despite concerns over its financial health following the apparent collapse of its deal with Quantum Motorsports.

The Enstone team appeared as a provisional entry on the line-up issued by the FIA last week, and has already announced that it will miss the opening test of the year, but chairman Gerard Lopez maintains that there is no doubt over its participation, with the sponsorship funds being brought by Pastor Maldonado more than enough to ensure its participation despite doubts over the 35 per cent buy-in arranged with Quantum.

Maldonado arrives from Williams with a bucketful of PDVSA cash, having been picked ahead of Nico Hulkenberg to partner Romain Grosjean. The Venezuelan replaces Ferrari-bound Kimi Raikkonen, who ended his association with Lotus due, in part, to unpaid wages. Reserve driver Davide Valsecchi this week revealed that he, too, had yet to be paid by the team, and the ongoing wait for funds from Quantum has caused questions over Lotus' future to be raised once again.

"Nothing has changed - we'll be there," Lopez told Germany's Auto Motor und Sport, revealing that the team had run out of patience with its apparent saviour.

"The Quantum money never arrived, [so] we broke things off with them, [but] we have a full budget for 2014 with our new sponsor PDVSA, and we won't run up any more debts.”

Lopez confirmed that his Genii Capital firm – which remains the team's major creditor - would cover the losses incurred during its pursuit of fourth place in the constructors' table last season. He also insisted that Raikkonen – and presumably Valsecchi – would receive any outstanding salary.

Related Pictures

Click on relevant pic to enlarge
24.11.2013 - Race, Heikki Kovalainen (FIN) Lotus F1 Team E21
24.11.2013 - Race, Heikki Kovalainen (FIN) Lotus F1 Team E21  and Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR8
23.11.2013- Free Practice 3, Lotus F1 Team E21
26.10.2013- Qualifying: Pastor Maldonado (VEN) Williams F1 Team FW35
24.08.2013- Free Practice 3, Gerard Lopez (FRA), Lotus Renault GP owner
23.11.2013- Free Practice 3, Heikki Kovalainen (FIN) Lotus F1 Team E21
Robert Kubica, Renault, Lotus E20, Valencia [Credit: Renault F1]
Robert Kubica, Renault, Lotus E20, Valencia [Credit: Renault F1]
28.05.2017 - Pastor Maldonado (VEN) and his wife Gabriela
Pastor Maldonado (VEN) with his wife Gabriela.
16.04.2017 - Race, Nikki Lauda (AU), Mercedes and Gerard Berger (AUT)
27.11.2016 - Race, Chalerm Yoovidhya, Red Bull Racing and Gerard Berger (AUT)
27.11.2016 - Race, Gerard Berger (AUT)
27.11.2016 - Race, Gerard Berger (AUT), Michael
26.11.2016 - Qualifying, Gerard Berger (AUT), Jos Verstappen (NED) and Flavio Briatore (ITA)
26.11.2016 - Qualifying, Gerard Berger (AUT) and Flavio Briatore (ITA)
25.11.2016 - Free Practice 1, Gerard Berger (AUT) and Bernie Ecclestone (GBR), President and CEO of FOM
23.10.2016 - Race, Gerard Butler, Actor and Daniel Ricciardo (AUS) Red Bull Racing RB12

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