Genii sell Lotus stake to Infinity Racing
#1
Posted 18 June 2013 - 14:36
Genii has sold a 35% stake in the Lotus team to new investor Infinity Racing. Story soon
3:27 PM - 18 Jun 13
A lawsuit with Red Bull coming up soon... who is the real Infinity?
....
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#2
Posted 18 June 2013 - 14:39
infiniti - red bull racingJon Noble @NobleF1 7m
Genii has sold a 35% stake in the Lotus team to new investor Infinity Racing. Story soon
3:27 PM - 18 Jun 13
A lawsuit with Red Bull coming up soon... who is the real Infinity?
....;)
#3
Posted 18 June 2013 - 14:40
@adamcooperf1: Lotus F1 announces new investment from a consortium called Infinity Racing. Nothing to do with the other Infiniti!
http://t.co/PCHsCUlfgT
Edited by Woody3says, 18 June 2013 - 14:56.
#4
Posted 18 June 2013 - 14:43
#5
Posted 18 June 2013 - 14:50
Edited by redreni, 18 June 2013 - 14:51.
#6
Posted 18 June 2013 - 15:15
to be two Infinity teams?
They better not change their name!!
#7
Posted 18 June 2013 - 15:35
at least spell is different this time
#8
Posted 18 June 2013 - 15:36
#10
Posted 18 June 2013 - 16:05
#11
Posted 18 June 2013 - 16:25
#12
Posted 18 June 2013 - 16:38
#13
Posted 18 June 2013 - 16:44
This is not sponsorship. This is selling stakes in the team. I expect the money to go to Genii Capital, not necessarily back to the racing team. Genii capital has put in lot of its own funds and they need to recover all that cash. This would help with that. If you want money for the team, that would come from sponsorship.
Selling stakes can bring money to the team. Look at the recent example at Force India, where Sahara came in.
#14
Posted 18 June 2013 - 16:54
They have nothing to do with Red Bull's Infiniti. According to Joe Saward, 60% of Infinty Racing belongs to Universal Sports Group LLC from Brunei, which seems to have ties to their royal family, 20% to Crescent Investment Management LLC, an NYC-based investment company headed by Mansoor Ijaz and 20% to Al Manhal International, an investment company from Abu Dhabi.Who still wants to claim that Kimi is not with RBR?
http://joesaward.wor...-into-lotus-f1/
#15
Posted 18 June 2013 - 16:57
Abu Dhabi and Brunei doesn't sound too bad in regard to money. Let's wait and see.^ Reinvesting money from sold stake is unlikely. That said, if a new investor comes and buys stake in the team, he may probably come with a plan to make a good business out of it - meaning some sponsorship money and getting more returns from it. It is an encouraging sign from that angle, but I don't believe it is money now as such for the team.
#16
Posted 18 June 2013 - 17:04
#17
Posted 18 June 2013 - 17:07
Doesn't Genii still owe Renault money from the loan that Renault gave them to buy the team? Guess they're welcoming the investment to pay of the debt.
Which in turn will allow them to spend more on racing and less on financing charges and interest.
#18
Posted 18 June 2013 - 17:18
Hmm so there's Brunei money behind this, interesting.They have nothing to do with Red Bull's Infiniti. According to Joe Saward, 60% of Infinty Racing belongs to Universal Sports Group LLC from Brunei, which seems to have ties to their royal family, 20% to Crescent Investment Management LLC, an NYC-based investment company headed by Mansoor Ijaz and 20% to Al Manhal International, an investment company from Abu Dhabi.
http://joesaward.wor...-into-lotus-f1/
Have worked there for some years and really if the sultan gets into F1 he could build a world class F1 facility from his pocket change.
Wasn't Genii trying to sell (part of) the team for some time now?
#19
Posted 18 June 2013 - 17:40
Yes, as I said, from the new investors there is definitely some possibility for good things.Abu Dhabi and Brunei doesn't sound too bad in regard to money. Let's wait and see.
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#20
Posted 18 June 2013 - 17:45
Some guys have no sense of humor.They have nothing to do with Red Bull's Infiniti. According to Joe Saward, 60% of Infinty Racing belongs to Universal Sports Group LLC from Brunei, which seems to have ties to their royal family, 20% to Crescent Investment Management LLC, an NYC-based investment company headed by Mansoor Ijaz and 20% to Al Manhal International, an investment company from Abu Dhabi.
http://joesaward.wor...-into-lotus-f1/
#21
Posted 19 June 2013 - 04:12
So a team backed by one lot of vulture capitalists is being sold on to a different bunch of vulture capitalists? I'm struggling to care, to be honest. At least this lot can spell their own name.
They're carrying on with their vulture friends un-original thinking, probably hoping success by sucking at a name, too.
#22
Posted 19 June 2013 - 04:37
Infinity Lotus Racing Renault
vs
Infiniti Red Bull Racing Renault
Awesome, lol.
#23
Posted 19 June 2013 - 04:42
The car will be designated 'Arby 10'.
#24
Posted 19 June 2013 - 09:56
http://www.espn.co.u...rce=twitterfeed
confident then.
#25
Posted 19 June 2013 - 10:01
Is there a list of confident investment people announcing they're going to win the championship in X years, only to then disappear completely?Asked where he expected the team to be in 12 months, Chairman of Infinity Racing, Mansoor Ijaz added: "We'll be number one in 12 months. I say it simply, flatly, completely - we'll be number one in 12 months."
http://www.espn.co.u...rce=twitterfeed
confident then.
#26
Posted 19 June 2013 - 10:05
Indeed. Does smack of naivety.Is there a list of confident investment people announcing they're going to win the championship in X years, only to then disappear completely?
#27
Posted 19 June 2013 - 12:30
If Kimi moves to RBR, who will win that No. 1 position for them? Webber? Hulk and/or Rosberg are the only rational hopes, despite that both drivers are unknown whether they can live under pressure in dying minutes of the season.Asked where he expected the team to be in 12 months, Chairman of Infinity Racing, Mansoor Ijaz added: "We'll be number one in 12 months. I say it simply, flatly, completely - we'll be number one in 12 months."
http://www.espn.co.u...rce=twitterfeed
confident then.
#28
Posted 19 June 2013 - 12:44
#29
Posted 19 June 2013 - 12:59
Well that's a bold statementAsked where he expected the team to be in 12 months, Chairman of Infinity Racing, Mansoor Ijaz added: "We'll be number one in 12 months. I say it simply, flatly, completely - we'll be number one in 12 months."
http://www.espn.co.u...rce=twitterfeed
confident then.
Haven't we heard similar talk by BAR-Honda, Toyota and even Spyker lol
Good luck to them but I wouldn't bet on it
#30
Posted 19 June 2013 - 13:10
#31
Posted 19 June 2013 - 13:15
What sponsors? They've announced they have sold part of the team and not that they have new sponsors1. Get sponsors = money
2. Get sponsors = money
3. Get sponsors = money
#32
Posted 19 June 2013 - 15:24
you took it out of context.What sponsors? They've announced they have sold part of the team and not that they have new sponsors
It was question about wishes. Not about what happenedIf you had three wishes for Lotus F1, would this exact thing have been on that list?
#33
Posted 19 June 2013 - 15:31
it is indirectly related if it was done for the good of the team....sell stakes to reliable guys who have better connections to attract sponsors....but it could also be that they wanted some quick bucks and took the shortest route....What sponsors? They've announced they have sold part of the team and not that they have new sponsors
only future can tell whether they did bring right guys...
#34
Posted 19 June 2013 - 15:33
If Kimi moves to RBR, who will win that No. 1 position for them? Webber? Hulk and/or Rosberg are the only rational hopes, despite that both drivers are unknown whether they can live under pressure in dying minutes of the season.
If anything, this makes Kimi staying at Lotus more probable. They have sultan money backing now and Kimi can get his mega contract.
#35
Posted 19 June 2013 - 17:32
In a word - Toyota - I think sultan wasn't remained of history, and role that money can play, or let you down.If anything, this makes Kimi staying at Lotus more probable. They have sultan money backing now and Kimi can get his mega contract.
#36
Posted 19 June 2013 - 17:54
modern corporate/product naming is just too generic.
how bout this, "Pegasus Racing" buys Williams, Toyota to supply engines and Google as title sponsor - Nexus Pegasus Lexus
not to mention Canon alone has Ixus (camera) and Pixus (Japan name for PIXMA printers)
oh and there're just too many xp__, exp__, ex__
#37
Posted 19 June 2013 - 18:11
Sounds interesting - can you say this in English?In a word - Toyota - I think sultan wasn't remained of history, and role that money can play, or let you down.
#38
Posted 19 June 2013 - 18:27
Sounds interesting - can you say this in English?
#39
Posted 19 June 2013 - 18:27
Money is not the reason Toyota failed. Toyota failed in spite of money. Money can only be a good thing for Lotus. They have been the most overachieving team given how tight they are on money. Money is the one word many people have said that team needs.In a word - Toyota - I think sultan wasn't remained of history, and role that money can play, or let you down.
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#40
Posted 19 June 2013 - 18:38
Hmm, I thought that's was I was saying.Money is not the reason Toyota failed. Toyota failed in spite of money. Money can only be a good thing for Lotus. They have been the most overachieving team given how tight they are on money. Money is the one word many people have said that team needs.
People are wrong, when associating success with money alone. You also need an idea, as RBR proved to us regarding this successful union, whereas in contrast Ferrari has money, but perhaps is weaker on ideas.
#41
Posted 19 June 2013 - 18:49
Menace did not say money alone can get you success. But in the present F1 you definitely need money for success. This team has punched above its weight and has competed for the past two championships. If there is one team that needs money, it is this. Your 'all money, no brains' does not apply to this team, as they have already proved they have got competent brains. You think Toyota and Lotus have had comparable performances in recent times? If no, then what you say is not relevant here.Hmm, I thought that's was I was saying.
People are wrong, when associating success with money alone. You also need an idea, as RBR proved to us regarding this successful union, whereas in contrast Ferrari has money, but perhaps is weaker on ideas.
Edited by SpaMaster, 19 June 2013 - 18:50.
#42
Posted 19 June 2013 - 19:41
This team has punched above its weight and has competed for the past two championships.
They have done well but have never looked like winning any CC TBH.
#43
Posted 15 July 2013 - 17:31
http://www.autosport...t.php/id/108791One of the key factors that will help Lotus pick the best talent available, rather than the best-funded drivers, is the financial boost that is expected to come from a link-up with new investors Infinity Racing.
Lopez said that discussions with the group were ongoing, although the deal had not yet been completed.
"It is progressing onwards; it also sits with us," he said. "We issued a statement because we had to; our group is a well-known group and we cannot just let things slip out.
"It is progressing and it is partially up to us to decide how we move forward."
#44
Posted 15 July 2013 - 17:35
That really does seem odd. I remember seeing news everywhere that the deal has been done. There's something really fishy about all this that's for sure.Can somebody clarify me on this? I thought the deal was already done.
http://www.autosport...t.php/id/108791