News Details
Lopez denies Genii financial troubles
Gerard Lopez
Lotus owner Gerard Lopez has lashed back at reports suggesting that the team's holding company Genii is in dire financial health.
Tageblatt reported recently that Genii, headed by Lopez and his business partner Eric Lux, is recording ever-growing losses and debts.
Britain's Independent newspaper said Lopez, although based in Luxembourg, flew in his private jet to Genii's London headquarters to 'put the record straight'.
'It's absurd to say that Genii has financial problems,' he insisted. 'Yes, Lotus has lost money, like every other Formula 1 team in the world.'
Lopez said the Enstone based team cost Genii 'about 50 million' last year and debt is currently about 100 million,...
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11y ago from GrandPrix247.com
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