Lotus confirms F1 trucks are on way to Monza
Lotus eased concerns about its short-term future in Formula 1 on Tuesday after confirming its trucks were en route to Monza for the Italian Grand Prix.
Speculation about the outfit has intensified dramatically over recent days, with the race team in a financial holding pattern as its owners await confirmation from Renault about potential takeover plans
Renault is eyeing taking on a majority stake in the team as part of a move that will bring about the return of a full works team for the French car manufacturer, but there are still big financial hurdles to overcome.
The uncertainty about where Lotus is heading in the long term is delivering headaches for it in the short term, however, as the Enstone-based team's owners have put a hold on investment.
Creditors list
The situation has meant development work has all but stopped, a number of bills have gone unpaid and it has been unable to shore up longer-term financial commitments that would generate much-needed cashflow.
Formula 1 supremo Bernie Ecclestone even revealed to The Times on Tuesday that he had helped fund a shortfall in cash that was needed to pay staff.
He told the newspaper: “I thought I should cover the wages of the people there to make sure they were all right and so that Lotus would at least get to Spa and, hopefully, to Italy.
“But they really need to make progress with Renault now to make sure everything is OK.”
Going legal
With the creditors list growing, matters have started getting more serious.
In Hungary, Pirelli refused to release its tyres to Lotus until just before first practice due to an outstanding bill.
There were also dramatic scenes at the Belgian Grand Prix where, just hours after Romain Grosjean took a podium finish, bailiffs arrived and refused to let the team's trucks leave as part of a dispute with former test driver Charles Pic.
Lotus chiefs appears to have reached a compromise on that legal matter in the short term, however, and the team confirmed on Tuesday that it was clear to compete in Italy – and its trucks were on their way.
It is hoped that a clearer picture of Renault's plans will emerge this week, and when that is resolved it will likely have a knock-on impact on the French car manufacturer's 2016 engine plans with Red Bull and Toro Rosso.
VIDEO: The magic of Monza on Inside GP
Share Or Save This Story
Brundle awarded OBE in King’s New Year’s honours
The new rules dilemma that will define the 2025 F1 season
Verstappen issues Red Bull title warning in push for RB21 progress
Romain Grosjean confirms surgery on right hand after Detroit GP
Coyne to pay special tribute to Kyle Busch with Grosjean's No. 18 Indy 500 entry
Rossi, O'Ward, and Grosjean cars destroyed in huge Indy 500 practice crash
The Lotus 72 was "an extension of my body," Emerson Fittipaldi reveals
Romain Grosjean turns 40 – here’s his career in 10 key moments
Ayrton Senna's 1986 Lotus F1 car hits auction for eight-figure estimate
Inside Marc Marquez’s new approach to racing after surgery
Kimi Antonelli feared for F1 future during tough rookie year
David Croft "perplexed" by Monaco GP penalties: "Something was a bit amiss"
Why Alpine’s attempt to dispute Monaco result may open a can of worms
Anti-racing or ingenuity? Monaco's hold-up tactics might be in F1 for good
What could drive McLaren to build its own F1 engine
No more naysayers, surely? How Monaco proved Kimi Antonelli's searing form wasn't just luck
Why Toto Wolff may need to try some distraction tactics
Subscribe and access Motorsport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments