Lotus F1 Owes Proton a Lot of Money?

September 13, 2012 at 12:41

Although Lotus F1 co-owner Gerard Lopez has announced about the termination of the contract with Group Lotus, which in the end will lead to the result that a British manufacturer of sports cars will lost the status of the title sponsor of the team, the site Pitpass.com writes that, in fact, it had little effect on the relationship of the parties.

Photo of Group Lotus car

Photo of Group Lotus car

According to this online edition, at one time the concern Proton, which includes Group Lotus, gave to the Lotus team a very large loan, and if it can not extinguish it, there is a risk that the financial control of the Lotus F1 will go to the Malaysian side. Moreover, at the disposal of Pitpass there were documents proving this, and some of them have already been announced.

Picture of Lotus F1 car in 2012

Picture of Lotus F1 car in 2012

For example, in the documents they refer to the fact that as a security for the loan there are the “plant, machinery, show cars, computers, office equipment and other property that is listed in the list of Lotus F1″. As it is clear from the published official data, a total of movable and immovable property in Lotus F1 the amount is estimated at 44.9 million pounds. Information about the repaid loans from Proton is not yet available, so we can assume that its financial situation is not the easiest. However, time will tell what will be in the end of that situation.

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