News Details
Lotus reveals £64m loss
Days after team owner Gerard Lopez dismissed talk of financial problems at Lotus, 2013 accounts reveal a £64m loss for Enstone outfit.According to a report in Forbes, the loss is the result of inter-company loans and the interest accrued. End of year accounts for 2013 reveal that though revenue remained stable at £92.6m ($154.1m), net losses increased by £9.6m ($16m) as interest payments on the inter-company loans increased to £13.5m ($22.6m).Talking to the Independent at the weekend, Lopez, whose private equity firm Genii Capital controls Lotus, said: 'We support Lotus with debt, not sponsorship like the other big teams”. This is confirmed by the fact that...
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