Reports of Lotus cash struggles won’t go away as they try hold on to Raikkonen

Can Lotus hang on to Kimi Raikkonen amid reports of money hassles

Can Lotus hang on to Kimi Raikkonen amid reports of money hassles

Troubling signs of financial weakness are continuing to emerge from Lotus, as the authoritative German website motorsport-total.com reports that, although in the hunt for the 2013 title, the Genii-owned outfit is “struggling to survive” under € 120 million of debt.

For example, although Kimi Raikkonen is second only to Sebastian Vettel in the chase for the drivers’ championship, development of the 2013 car is apparently all but over.

Asked also about rumours of ‘money problems’, leading Lotus engineer Alan Permane admitted to Auto Motor und Sport: “We have not much more in the pipeline for 2013.

“What was planned has already been developed and will be used in the corresponding race,” he added.

Lotus have been impressive this season on track

Lotus have been impressive this season on track

It is a worrying sign for a team fighting for a world championship, and pushing to keep lead driver Raikkonen on the books for 2013.

Indeed, amid rumours that Red Bull and Ferrari are bidding to sign the Finn for 2014, Raikkonen admitted mere days ago that he is still waiting to be paid.

“This happened last year, now again so it is not ideal,” said the 33-year-old.

Lotus owner Genii announced in June that a consortium called Infinity Racing has bought 65 per cent of the Enstone based team.

But reports soon followed that the deal is not actually done, with the subsequent delay having left Lotus – and Raikkonen – waiting for the money.

Kimi Raikkonen may not be with Lotus in 2014

Kimi Raikkonen may not be with Lotus in 2014

“We are going to reorganise the financial process of the company,” team boss Eric Boullier is quoted by the Finnish broadcaster MTV3.

“We are expecting a large financial investment, which is part of the team’s future plans.

“There may be some delays, but it will be repaired within a few days. It is part of the discussions and we will give Kimi all the answers,” said the Frenchman.

Boullier said he is hopeful that the money issue will not cause Raikkonen to jump ship.

Asked how close a deal is, he insisted: “We are not very far from it. The package that ensures the future of the company is [being] completed slowly, but we’ll get there.”

“He will get all the answers and be able to take a decision within a few weeks.” (GMM)

Subbed by AJN.

  • k-15-

    Infinity is interested in pumping in millions only if the iceman stays on board. They are smart enough to ink the deal only after kimi re-signs for 2014.

  • Boycottthebull

    Billionaire Bernie and the F1 corporation are just plundering every cent they can and returning nothing to the teams but debt. They are so greedy they wont even allow any reign in on costs. Instead they bring in new rules and engines to escalate costs even further. they will walk away with a rich cash cow even when all the teams go bankrupt. If Bernie paid the teams instead of bribes they all wouldnt be in this financial mess. If your reading this Bernie I hope you end up in a German jail for destroying F1.

  • JR

    19% drop in revenue at Lotus since 2011, as sponsors leave due to poor AVE from lower TV audiences.

  • KC

    “They are so greedy they wont even allow any reign in on costs. Instead they bring in new rules and engines to escalate costs even further”

    Bernie opposed the new engines because he felt they would escalate costs, you clueless jackass.

  • petes

    This Infinity announcement is interesting.
    What does ‘infinity’ mean?

    How long is a piece of string?