Lotus owners Genii to plan to invest big in football

(L to R): Eric Lux (FRA) Genii Capital CEO and Gerard Lopez (FRA) Genii Capital. Formula One World Championship, Rd 4, Turkish Grand Prix, Qualifying Day, Istanbul Park, Turkey, Saturday 7 May 2011.Jul.7 (GMM) Genii, the private equity fund that owns the Lotus team, is looking into making approximately $620-million worth of investment into the world of football.

Team owners Gerard Lopez and Eric Lux are eyeing five second-tier European clubs as well as a dozen player agencies, academies and media rights companies, the Financial Times reports.

“[Big-name clubs] are inherently risky and very difficult to turn around,” said Lopez. “We would rather take a club of $50-turnover than one with high aspirations and huge debt.”

Despite last year’s losses, and the departure of title sponsor Group Lotus, Lopez said that the Enstone based F1 team is now on track to break even.

Subbed by AJN.