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Lopez: Lotus was not a failure
Genii Capital chief Gerard Lopez does not look back at his time as the owner of Lotus as a failure despite the team costing him a small fortune before he resold it to Renault. Lopez told AFP, 'My foray with Lotus was not a failure. We took over the team by investing 40 million in debt repurchasing and saved 450 jobs. The team had no sponsors but we attracted many of them.' 'But when we reached an operational equilibrium, the costs exploded and the sponsors left. We could have closed but we decided to sell, to save 540 employees.' 'The team had no debts to its suppliers when we sold to Renault. There was 130 million in debt but that was to the shareholders,' he insisted. On the positive...
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8y ago from GrandPrix247.com
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