Motorsports

Lotus F1 Team £114 Million In Red

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Turbulent times ahead for the F1 outfit.

Reports indicate that the Lotus F1 team is in £114 million debt, a dilemma that forced the team to sit out the first test session at Jerez.

Backed by investment firm, Genii Capital, it was mentioned that the lack of cash flow may have driven Kimi Raikonnen to a more successful team this year, since he was owed his 2013 salary. The departure of Kimi Raikonnen to Ferrari, allows Pastor Maldonado to join the Lotus F1 team, bringing with him the Venezuelan state oil company sponsorship, PDVSA. Lotus F1 chairman and Genii co-founder, Gerald Lopez revealed that it has secured funding to offset its cost for the 2014 season.

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About Jack Lee

Jack Lee is an unqualified petrol head (some say, to be one, you have to own an Alfa Romeo) who is disappointed with cars which are getting more and more electronics and the lack of interest in cars shown by today's youths in general. He owns an almost 20 year car from Germany, which has almost 50:50 weight distribution, 3 pedals (manual, FTW!) and believes that everyone should spin at the last corner of Sepang circuit at least once in their life. He also holds the distinction in TCG as the person with the lightest right foot, of course, when compared with his colleagues' mutated cast iron right foot.

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