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Lotus F1 team on the verge of being sold in November 2012


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#1 Jovanotti

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Posted 10 January 2013 - 07:18

"According to secured information, Lotus F1 was almost sold at the end of October 2012, minor juridical details led to the signing being delayed. Räikkönen's victory in Abu Dhabi overturned the deal because Lopez and Lux smelled an increase in value of the team and wanted to renegotiate, the investors ultimately lost interest and talks broke down at the beginning of December."

http://www.motorspor...s_13010801.html

(A few interesting points more there:
- Lotus got the expenditure and staff of a top team (~550 employees), but no corresponding income
- Räikkönen earned a massive 17 million Euros this year (salary + bonus)
- Although Lotus finished off the deals with Burn and Honeywell, there is supposed to be a financing gap of 30 millions in 2013
- Debts at the moment: 80 millions)

This stands in stark contrast to Lopez' recent statements in Gazzetta dello Sport, quoted in this autosport article ("I have never wanted to sell the team (...)") and another article from this site ("Rumours surfaced over the Indian Grand Prix weekend that the team was about to be sold to Proton, but these are understood to be wide of the mark"). Apparently there was more to the rumours than we've thought at first.

The financial problems of Lotus as portrayed in this article are beyond what I've known and expected so far. The question that the rumoured sale of the team raises, again, is how committed the current owners are to their project and F1 in general.
Lopez openly talked about Lotus being a business platform, a "bait" for their business partners already earlier this year, and made it clear that first and foremost, it has to make sense from a financial point of view (interview in German again, sorry folks ;) - interestingly the increasing value of the team after Kimi's victory is already mentioned here, just when behind the scenes this might have been the actual reason for Lopez still being in F1 at all).

From all we know, Lotus, despite a successful campaign in 2012 and the acquisition of new major sponsors, is set to face a difficult year. Can the F1 project work out with it's current owners? Is the team a sinking ship or is it just on the (risky) rise to a place among the top three?

Edited by Jovanotti, 10 January 2013 - 13:20.


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#2 BackOnTop

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Posted 10 January 2013 - 08:09

It just goes to prove how valuable a World Champion delivering on track beyond the Mid-Field "teams" means can improve it's negotiating powers or lure in new Sponsors.

Without Kimi, this team would have been history by now financially!

It also goes to prove why & how certain World Champions are beyond what certain Mid-Field teams can afford because of their performance level exceeding their expectations. Kimi earned that 17 Million, but Lotus sure couldn't believe or afford it. Hence top teams pay top drivers, Kimi being out of position in 2012.

Lotus were Kinda lucky to get a World Champ onboard, compared to their status matching that of Force India & Sauber. Lotus gained Mega PR & maximum new fans thanks to Kimi's worldwide following.

Kudos must also be given to James Allison & the whole team for building an excellent car with such limited budget. Brilliant job done by everyone, barring Grosjean who wasted a great car. In 2013, he must do better & he has it in him. Both drivers getting good results will help sustain Lotus beyond 2013.

On the flip side, Lopez gets a higher bargaining power than the 17 Million thanks to Kimi. I doubt Coca Cola & Unilever would consider this team if they had 2 Crashjeans!!

Even if Kimi shifts teams after 2013, Lotus will definitely hold him in high regard for bringing back the Top Team mentality & the winning feeling back to Enstone.

Edited by BackOnTop, 10 January 2013 - 08:12.


#3 BackmarkerUK

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Posted 10 January 2013 - 08:25

If Lopez and Lux thought they could get more form the sale of the team, it stands to reason that there was someone they thought they could sell the team to. Either they were wrong, or there is indeed one or more potential buyers out there with deep pockets. It doesn't surprise me that Genii Capital are looking to sell - at heart they're like Thesan Capital were for HRT, just keeping the team ticking over with the hope that they'll find a buyer.

#4 Sakae

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Posted 10 January 2013 - 09:46

I am doubtful that this is good news for the team, as I would consider it noise on a racing related focus. New ownership always brings on changes, minute as they might be, and that must be unnerving to management, as this is last thing what they need right now. Just the fact that it leaked out means, that the effort to sell the team (for undisclosed reasons) is real. KR might not care, but others in the office are probably sitting on the edge.

#5 SealTheDiffuser

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Posted 10 January 2013 - 10:00

- Räikkönen earned a massive 17 million Euros through his point bonuses this year


50.000 $ per point


No wonder they could not pay him.

#6 HistoryFan

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Posted 10 January 2013 - 10:56

I didn't think there is anyone who want to buy a F1 team now. Who should that be? Stefan GP? :rotfl:

#7 Shiroo

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Posted 10 January 2013 - 11:23

So he was best paid driver in 2012? and it is 17milion only from bonuses? Then + standard payment in contract ( like few milions coz I believe that his manager thought that car might be for example really bad and no points is possible to achieve with it) it means 20+mln

#8 Jovanotti

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Posted 10 January 2013 - 11:31

So he was best paid driver in 2012? and it is 17milion only from bonuses?

17 millions is salary and bonuses, sorry for being unclear.

Edited by Jovanotti, 10 January 2013 - 11:31.


#9 Shiroo

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Posted 10 January 2013 - 12:20

17 millions is salary and bonuses, sorry for being unclear.

17 milions is anyway highest salary. But thanks god that it is both. 17 milions from bonuses only would be odd

#10 prty

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Posted 10 January 2013 - 12:40

It just goes to prove how valuable a World Champion delivering on track beyond the Mid-Field "teams" means can improve it's negotiating powers or lure in new Sponsors.

Without Kimi, this team would have been history by now financially!


Or maybe the team wouldn't have been in that position in the first place. Let's not lose perspective here, with the car they had in the first part of the season, they should have had more than one win in Abu Dhabi.

Edited by prty, 10 January 2013 - 12:42.


#11 Ross Stonefeld

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Posted 10 January 2013 - 12:41

Even 17million is a bit crazy, his season wasnt *that* good.

#12 Starish

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Posted 10 January 2013 - 13:06

Even 17million is a bit crazy, his season wasnt *that* good.


His contract was though.

#13 Rikhart

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Posted 10 January 2013 - 13:07

Even 17million is a bit crazy, his season wasnt *that* good.


Yes, it was. It was a superb season after a hiathus of 2 years, on a quick but very temperature sensitive/inconsistent car. He was a bit rusty especially in qualy for a while, but he just took off and lifted that team to new heights.

#14 sheSgoTthElooK

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Posted 10 January 2013 - 13:15

17 milions is anyway highest salary. But thanks god that it is both. 17 milions from bonuses only would be odd


How do you know? Any reference? I would assume Alonso is the best paid driver at the moment^^

Edited by sheSgoTthElooK, 10 January 2013 - 13:15.


#15 boldhakka

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Posted 10 January 2013 - 13:24

There's no smoke without fire.

#16 Jovanotti

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Posted 10 January 2013 - 13:26

If Lopez and Lux thought they could get more form the sale of the team, it stands to reason that there was someone they thought they could sell the team to. Either they were wrong, or there is indeed one or more potential buyers out there with deep pockets.

Good spot - Joe Saward agrees with you:

"It (the offer) obviously was not good enough for him and his fellow investors and the fact that he is now saying he is not selling suggests to me that there is a probably a buyer out there and that he is simply pushing up the price…"


Interesting article for the matter we're discussing btw: Business models in F1

Edited by Jovanotti, 10 January 2013 - 14:47.


#17 Ross Stonefeld

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Posted 10 January 2013 - 13:30

Yes, it was. It was a superb season after a hiathus of 2 years, on a quick but very temperature sensitive/inconsistent car. He was a bit rusty especially in qualy for a while, but he just took off and lifted that team to new heights.


Thank you for that unsentimental analysis.

#18 BackOnTop

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Posted 10 January 2013 - 14:20

Or maybe the team wouldn't have been in that position in the first place. Let's not lose perspective here, with the car they had in the first part of the season, they should have had more than one win in Abu Dhabi.

How does getting more wins change anything!

Maybe you are thinking Grosjean should have done better to help the Constructors position!

Or maybe the team wouldn't be in this Position in the first place?? :confused:
You trying to blame Kimi in some way? Or you think he shouldn't "earn" what is "rightfully" his by contract made with mutual agreement by Lotus themselves.

Only problem I see with this is that Lotus "underestimated" Kimi Raikkonen's talent, experience & ontrack performace and believed he wouldn't finish in the top 3 in the World Championship. So you are trying to fault Kimi for performing beyond expectations. How cute.

#19 SpaMaster

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Posted 10 January 2013 - 14:33

I look at it differently. That, Lotus was willing to spend beyond its current capability because it believes it is destined to be greater. Their aims are high. I like that.

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#20 BackOnTop

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Posted 10 January 2013 - 14:34

Even 17million is a bit crazy, his season wasnt *that* good.

Raikkonen's season wasn't good, it was brilliant.

17 Million is a well earned Salary + Bonus considering he beat both Mclaren drivers Hamilton & Button, one Red Bull driver & Nico & Schumi.

Bonus is the key word here, as Lotus got Kimi at a Bargain Salary compared to the above mentioned drivers who failed to beat him whilst getting a higher paid salary. If anything, Mclaren & RBR management need to recheck how much they pay their drivers if they got beat by a driver returning after 2 years to the sport.

#21 Ross Stonefeld

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Posted 10 January 2013 - 14:38

Did he, or did Lotus? Or a combination of the two? I imagine Lotus may not have anticipated their season being so good or the McLaren drivers having such and up and down year.

#22 SpaMaster

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Posted 10 January 2013 - 14:39

Or maybe the team wouldn't have been in that position in the first place. Let's not lose perspective here, with the car they had in the first part of the season, they should have had more than one win in Abu Dhabi.

Are you sure that is a perspective most fans share? Otherwise, others may not be the ones losing perspective!

#23 Jovanotti

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Posted 10 January 2013 - 14:59

Did he, or did Lotus? Or a combination of the two? I imagine Lotus may not have anticipated their season being so good or the McLaren drivers having such and up and down year.

Naturally, various factors were involved in getting them 3rd in WDC, and I also suppose that the whole management right up to the owners got caught by surprise by their relative success. The, in hindsight, exaggerated bonuses are surely proof of that. Question is, when will Lopez and co. think that their asset has peaked and sell? Now could be the moment, as they still seem on the rise but might well stagnate next season. On the other hand, they might want to take the last step, too. Either way, it's a risky business as the numbers show.

#24 boldhakka

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Posted 10 January 2013 - 15:00

I look at it differently. That, Lotus was willing to spend beyond its current capability because it believes it is destined to be greater. Their aims are high. I like that.


The trouble with this approach is that as they rack on the debt, they'll get more and more in a position where they have to find a buyer. Otherwise they'll have to liquidate all assets just to pay off the debt - they wouldn't be able to pay it off by becoming slowly profitable, because the debts would be so big. They're taking on an additional 40% debt in 2013.

#25 BackOnTop

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Posted 10 January 2013 - 15:02

Did he, or did Lotus? Or a combination of the two? I imagine Lotus may not have anticipated their season being so good or the McLaren drivers having such and up and down year.

I think you are losing some perspective here about "who" actually does the driving on track, makes quick decisions to avoid crashes & bringing maximum returns to the team!

Going by what you are suggesting.. Ferrari & RBR had a great season/ or the combination of Ferrari-Alonso, Vettel-RBR.

A car is going to go nowhere without a driver driving it. And that same car reaches beyond expectations under a few talented World Champions.

Who cares a shod as to what happened to Mclaren. They need to sort out their issues themselves. Kimi beat both Mclarens, 1 RBR, 2 Mercedes & 1 Ferrari.

Grosjean, Webber & Massa didn't manage the same amount of success driving the same car as the Top 3 drivers of 2012. Bonus was well earnt driving for a Mid-Field level team.

Another Driver who drove well for a mid-field level team landed a "bonus" of bagging a seat with Mclaren.

Edited by BackOnTop, 10 January 2013 - 15:10.


#26 Ross Stonefeld

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Posted 10 January 2013 - 15:03

You should change your username to BackOnPageOne. You have a lot to learn about Formula 1.

#27 D.M.N.

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Posted 10 January 2013 - 15:06

Back to focussing on the opening post please and not Lotus' on-track performance vs other teams. Thanks

"According to secured information, Lotus F1 was almost sold at the end of October 2012, minor juridical details led to the signing being delayed. Räikkönen's victory in Abu Dhabi overturned the deal because Lopez and Lux smelled an increase in value of the team and wanted to renegotiate, the investors ultimately lost interest and talks broke down at the beginning of December."

http://www.motorspor...s_13010801.html

(A few interesting points more there:
- Lotus got the expenditure and staff of a top team (~550 employees), but no corresponding income
- Räikkönen earned a massive 17 million Euros this year (salary + bonus)
- Although Lotus finished off the deals with Burn and Honeywell, there is supposed to be a financing gap of 30 millions in 2013
- Debts at the moment: 80 millions)

This stands in stark contrast to Lopez' recent statements in Gazzetta dello Sport, quoted in this autosport article ("I have never wanted to sell the team (...)") and another article from this site ("Rumours surfaced over the Indian Grand Prix weekend that the team was about to be sold to Proton, but these are understood to be wide of the mark"). Apparently there was more to the rumours than we've thought at first.

The financial problems of Lotus as portrayed in this article are beyond what I've known and expected so far. The question that the rumoured sale of the team raises, again, is how committed the current owners are to their project and F1 in general.
Lopez openly talked about Lotus being a business platform, a "bait" for their business partners already earlier this year, and made it clear that first and foremost, it has to make sense from a financial point of view (interview in German again, sorry folks ;) - interestingly the increasing value of the team after Kimi's victory is already mentioned here, just when behind the scenes this might have been the actual reason for Lopez still being in F1 at all).

From all we know, Lotus, despite a successful campaign in 2012 and the acquisition of new major sponsors, is set to face a difficult year. Can the F1 project work out with it's current owners? Is the team a sinking ship or is it just on the (risky) rise to a place among the top three?



#28 SpaMaster

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Posted 10 January 2013 - 15:12

The trouble with this approach is that as they rack on the debt, they'll get more and more in a position where they have to find a buyer. Otherwise they'll have to liquidate all assets just to pay off the debt - they wouldn't be able to pay it off by becoming slowly profitable, because the debts would be so big. They're taking on an additional 40% debt in 2013.

But is it debt, or the owner shifting money from one business to other? But I agree with you that it is not sustainable in the longer run. It can happen may be only once or twice in order to not miss a reckoning opportunity. If they get some new sponsors that can make up the money they spent last year and would spend this year, then they can get away with one-time negative cash flow.

#29 Jejking

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Posted 10 January 2013 - 15:28

To build a bridge between Lotus' financial woes and Kimis salary, if we break it down the numbers and multiply 207 WDC points by 50.000 dollars, we get 10.35 mil for bonusses. That would leave 6.65 million bucks to be wasted on his static salary. Actually, for Lotus that's kind of a good deal (f.e. both Rosberg and Schumacher got paid around 8,5 million dollars) and if we decide to believe Kimis view of only getting back in F1 to win and in competitive machinery, it must have been a reasonable gamble at the time because 2011 for Lotus was an off-year. Also other popular grid slots (Red Bull, McLaren, Ferrari wasn't even an option) were already filled up and Lotus-Renault already had a history of being able to work out a good bunch of technical solutions on a budget.

It worked out for them both because the car was kept very well up to date (nickname: poor mans Red Bull) and Kimi managed to get back to speed quite quickly and not get involved in silly crashes like his team mate did. I say job well done, I hope they can keep this trend running in 2013 with one WDC onboard but I am doubting if they can keep Kimi there if there isn't a major capital injection in the team by sponsors. There are limits what you can do with a limited budget.

Edited by Jejking, 10 January 2013 - 15:33.


#30 boldhakka

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Posted 10 January 2013 - 15:30

But is it debt, or the owner shifting money from one business to other? But I agree with you that it is not sustainable in the longer run. It can happen may be only once or twice in order to not miss a reckoning opportunity. If they get some new sponsors that can make up the money they spent last year and would spend this year, then they can get away with one-time negative cash flow.


That's a good question. I don't know if the debt is just a bookkeeping number for Lopez's internal use or if it is part of the debt that Lopez originally took on to finance the purchase of the Enstone team. I suspect it's the latter. If Genii Cap is like other such firms, I would bet it was a leveraged buyout that got them the team, and that they need to exit at a fairly high valuation to pay off that debt.

This is assuming the report is accurate. I think it's at least close, if not dead on. Remember Kimi's comments after the win, he doesn't waste words.

#31 BackOnTop

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Posted 10 January 2013 - 15:36

But is it debt, or the owner shifting money from one business to other? But I agree with you that it is not sustainable in the longer run. It can happen may be only once or twice in order to not miss a reckoning opportunity. If they get some new sponsors that can make up the money they spent last year and would spend this year, then they can get away with one-time negative cash flow.

All teams have debt, Mid-Fields teams more so than top teams.

Thats because they are stuck between a rock and a hard place. They need money/loans etc to compete with the top teams like Mclaren & Ferrari... Without allowing their performance to dip like Williams did.

Lack of results will lose them sponsors... Gain of success will mean to spend more money on development. And to help gain on the money spent on developing a good car, the team then needs to invest in good drivers to make sure the results are achieved & dev money not wasted, team morale kept high & retain their current sponsors/investors.

Till they reach a top level where sponsors/investors feel like investing heavily... These mid-field teams will always have money shortage because of their expectations of results in the Constructors standings.

Technically, Lotus would become profitable immediately "tommorrow" if they take up HRT's space and expectations immediately in 2013... Because they wouldn't need to develop their already good car, half their staff, replace Kimi & Grosjean with Dela Rosa-Senna & keep a low profile.

Finance is never enough once you go after greater results.

Edited by BackOnTop, 10 January 2013 - 15:55.


#32 smoothcrim

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Posted 10 January 2013 - 16:17

17 millions is salary and bonuses, sorry for being unclear.



grosjean cost them 17 million also in spare parts.

#33 SpaMaster

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Posted 10 January 2013 - 16:26

That's a good question. I don't know if the debt is just a bookkeeping number for Lopez's internal use or if it is part of the debt that Lopez originally took on to finance the purchase of the Enstone team. I suspect it's the latter. If Genii Cap is like other such firms, I would bet it was a leveraged buyout that got them the team, and that they need to exit at a fairly high valuation to pay off that debt.

This is assuming the report is accurate. I think it's at least close, if not dead on. Remember Kimi's comments after the win, he doesn't waste words.

Ah, those words make much more sense now!

#34 prty

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Posted 10 January 2013 - 18:36

How does getting more wins change anything!


"Räikkönen's victory in Abu Dhabi overturned the deal because Lopez and Lux smelled an increase in value of the team and wanted to renegotiate


About the rest:

Maybe you are thinking Grosjean should have done better to help the Constructors position!

Or maybe the team wouldn't be in this Position in the first place?? :confused:
You trying to blame Kimi in some way? Or you think he shouldn't "earn" what is "rightfully" his by contract made with mutual agreement by Lotus themselves.

Only problem I see with this is that Lotus "underestimated" Kimi Raikkonen's talent, experience & ontrack performace and believed he wouldn't finish in the top 3 in the World Championship. So you are trying to fault Kimi for performing beyond expectations. How cute.


Whether you like it or not, Raikkonen underperformed in the first part of the season. It's perfectly understandable because he came back after two years, but still it's like that.

#35 tarmac

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Posted 10 January 2013 - 20:33

This contract is absurd. 50k/point + win bonuses no upper limit...

Lopez though he got a bargain before the season :up: :lol:

Edited by tarmac, 10 January 2013 - 20:33.


#36 rijole1

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Posted 10 January 2013 - 22:59

That's a good question. I don't know if the debt is just a bookkeeping number for Lopez's internal use or if it is part of the debt that Lopez originally took on to finance the purchase of the Enstone team. I suspect it's the latter. If Genii Cap is like other such firms, I would bet it was a leveraged buyout that got them the team, and that they need to exit at a fairly high valuation to pay off that debt.

This is assuming the report is accurate. I think it's at least close, if not dead on. Remember Kimi's comments after the win, he doesn't waste words.


Ah, those words make much more sense now!

:up: Exactly, that was an unusual comment by Kimi and you got the feeling that something serious was going on.


#37 Jejking

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Posted 11 January 2013 - 01:08

Ah, those words make much more sense now!

What words exactly?

#38 Zippel

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Posted 11 January 2013 - 01:10

This contract is absurd. 50k/point + win bonuses no upper limit...

Lopez though he got a bargain before the season :up: :lol:


You'd think they would have learned after they (as Benetton) had to pay Nelson Piquet a shitload in bonuses for 1990, I think it even ended up being his biggest paying year and his contract with Lotus was ridiculously generous.

#39 BackOnTop

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Posted 11 January 2013 - 05:36

What words exactly?

http://www.formula1....2/11/14024.html
Q: People want to know how amazing it is to win a Grand Prix. Tell us.

KR: Last time you guys was giving me s**t because I didn’t really smile enough, so maybe this time again but I mean I’m very happy for the team - and myself - but mainly for the team.
It’s really a hard season for the team and not an easy time. Hopefully this gives them more belief, not just for the guys making all the work but also for the guys who run the team. I hope this can turn around the tables and give us many more good races and wins. If not this year then next year.

Q: Kimi, well done, congratulations. Fantastic win for you, you’ve really been waiting for this win, I think, all season and now it’s happened. What are your feelings?

KR: Like I said before, I’m very happy for the team. We have had hard times lately and hopefully it gives some belief for the people, even more that… I mean they’ve been working very hard the whole year but with the hard times there’s a bit unknown in the whole situation and hopefully for the people who runs the team, who owns the team, the people who works for… for everybody, hopefully it gives a bit more support and hope that things will turn around and be even better than it’s been this year.

So, great thing for the team itself, for the guys and, I mean of course I’m happy myself, but if I win it’s great, if I don’t I will try again and it’s not the end of the life. We’ve been close few times but now I said that even the last race I think we had the speed to even win the race but if you don’t start in the front we see what can happen. We knew the start would be a really big key and I got a really good start so I think with the McLaren we didn’t have the speed, at least in the beginning of the race - but then we have to finish the race to win so… I mean after that we were pretty good. Just the safety cars made us a little bit more tricky today.

Edited by BackOnTop, 11 January 2013 - 05:51.


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#40 skinnylizard

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Posted 11 January 2013 - 06:53

Did he, or did Lotus? Or a combination of the two? I imagine Lotus may not have anticipated their season being so good or the McLaren drivers having such and up and down year.



reminds me of Piquet and his pay per point deal where he ended up with 2 wins and a few podiums. this though is super expensive, i don't think Lotus knew how good their car was.. helluva payout.

#41 skinnylizard

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Posted 11 January 2013 - 06:59

also, i remember reading that McLaren too offers a base salary and bonuses based on performance/points as well and that this was their standard contract and Kimi i guess would have experience with that sort of thing.

Edited by skinnylizard, 11 January 2013 - 07:00.


#42 BackOnTop

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Posted 11 January 2013 - 15:28

reminds me of Piquet and his pay per point deal where he ended up with 2 wins and a few podiums. this though is super expensive, i don't think Lotus knew how good their car was.. helluva payout.

More like Lotus didn't know how good Raikkonen can be. Grosjean scored 96 points and finished 8th. There would be no bonus & no win, & 4 Podiums poorer with 2 of him in that 'good' car.

I wonder what Lotus prefer since the season got over- End Achievements or No Bonus.

Edited by BackOnTop, 11 January 2013 - 19:36.


#43 Rinehart

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Posted 12 January 2013 - 02:10

"According to secured information, Lotus F1 was almost sold at the end of October 2012, minor juridical details led to the signing being delayed. Räikkönen's victory in Abu Dhabi overturned the deal because Lopez and Lux smelled an increase in value of the team and wanted to renegotiate, the investors ultimately lost interest and talks broke down at the beginning of December."

http://www.motorspor...s_13010801.html

(A few interesting points more there:
- Lotus got the expenditure and staff of a top team (~550 employees), but no corresponding income
- Räikkönen earned a massive 17 million Euros this year (salary + bonus)
- Although Lotus finished off the deals with Burn and Honeywell, there is supposed to be a financing gap of 30 millions in 2013
- Debts at the moment: 80 millions)

This stands in stark contrast to Lopez' recent statements in Gazzetta dello Sport, quoted in this autosport article ("I have never wanted to sell the team (...)") and another article from this site ("Rumours surfaced over the Indian Grand Prix weekend that the team was about to be sold to Proton, but these are understood to be wide of the mark"). Apparently there was more to the rumours than we've thought at first.

The financial problems of Lotus as portrayed in this article are beyond what I've known and expected so far. The question that the rumoured sale of the team raises, again, is how committed the current owners are to their project and F1 in general.
Lopez openly talked about Lotus being a business platform, a "bait" for their business partners already earlier this year, and made it clear that first and foremost, it has to make sense from a financial point of view (interview in German again, sorry folks ;) - interestingly the increasing value of the team after Kimi's victory is already mentioned here, just when behind the scenes this might have been the actual reason for Lopez still being in F1 at all).

From all we know, Lotus, despite a successful campaign in 2012 and the acquisition of new major sponsors, is set to face a difficult year. Can the F1 project work out with it's current owners? Is the team a sinking ship or is it just on the (risky) rise to a place among the top three?


The sound like the Leeds United of F1 to me.

#44 artista

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Posted 12 January 2013 - 08:26

The sound like the Leeds United of F1 to me.

What do you mean? My football knowledge is reduced to the Spanish Liga and a bit of the German one :blush:

#45 Rinehart

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Posted 12 January 2013 - 08:31

What do you mean? My football knowledge is reduced to the Spanish Liga and a bit of the German one :blush:


Basically they overspent hugely in order to try and win in order to drive up the price to sell it. It went badly wrong, they didn't win anything and went bust.

#46 artista

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Posted 12 January 2013 - 09:27

Basically they overspent hugely in order to try and win in order to drive up the price to sell it. It went badly wrong, they didn't win anything and went bust.

Thanks a ton :up:
I hope you are wrong, but if they are trying to make money investing in F1, you might end up being right.

#47 Jovanotti

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Posted 24 January 2013 - 13:01

Is the team a sinking ship or is it just on the (risky) rise to a place among the top three?

So two weeks later, the technical director is set to leave and the title sponsor deal likely won't happen. Debts and the lead driver reportedly still waiting for a part of his salary. Things worryingly turn towards option one atm I'm afraid...

Article on motorsport-total.com

Edited by Jovanotti, 24 January 2013 - 13:03.


#48 Tommorris747

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Posted 26 March 2013 - 00:59

Bump. Couldnt find this in the other Lotus threads. It doesnt say that the new guy has put in any money but what is the point in him joining the team if he doesnt? New third driver maybe :lol:
http://www.telegraph...s-F1-board.html

#49 William Hunt

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Posted 26 March 2013 - 01:35

reminds me of Piquet and his pay per point deal where he ended up with 2 wins and a few podiums.


Indeed, I was also thinking about that. I thought it was also 50.000$ per point that Piquet received, that was in 1990-1991 at Benetton.