Lotus signs deal with Dubai real estate company

2 Comments

Lotus F1 Team has today announced that it has entered a new partnership with Dubai real estate company Emaar Properties as the team looks to ease the financial uncertainty at Enstone.

Although the extent of the team’s financial problems has not been revealed, Kimi Raikkonen did confirm at the Belgian Grand Prix that things “aren’t as they should be” concerning his contract. Further to this, team owners Genii Capital have been actively seeking fresh investment to aid the situation. Although this deal will by no means calm the waters at Lotus, it does mark the beginning of a fresh partnership.

“We are delighted to begin this new relationship with Emaar Properties; particularly as the UAE has been a fruitful location for us on track with Kimi Raikkonen winning the 2012 Abu Dhabi Grand Prix,” team principal Eric Boullier explained. “With this new partnership with the developer of such iconic projects as Burj Khalifa and The Dubai Mall, we are looking forward to some home support as we race in the UAE once again this year.

“We are also very excited to see how this partnership will further enhance Lotus F1 Team’s brand value.”

As Boullier mentioned, Emaar Properties boasts a remarkable portfolio, making the company a lucrative partner for Lotus to work with. Chairman of Emaar Properties Mohamed Alabbar was similarly optimistic about the agreement.

“Our partnership with Lotus F1 Team, a remarkable team with impeccable credentials in the racing circuit, is therefore a perfect fit to our own values,” he explained.

With the sport’s profile continuing to grow in the region, signing a deal with a Dubai-based company will be beneficial for Lotus. However, it remains to be seen just whether the deal plays a part in securing Kimi Raikkonen’s services for 2014.

Audi bids farewell to Dr. Wolfgang Ullrich upon retirement

Audi Sport
Leave a comment

Audi bid farewell to its iconic head of motorsport, Dr. Wolfgang Ullrich, at its end-of-season ‘Race Night’ event in Germany on Friday upon his retirement.

Ullrich took over the reins as Audi’s head of motorsport in 1993 and stayed in the role for 23 years, overseeing its arrival in the prototype class of sports car racing and domination of the 24 Hours of Le Mans.

Ullrich stepped down from the position at the end of 2016, handing the reins over to ex-Audi DTM chief Dieter Gass, and attended his final racing event with the German marque at its first works Formula E outing in Hong Kong earlier this month.

Ullrich was honored at the Race Night event on Friday and thanked for his efforts in developing Audi into a force within global motorsport.

“In 566 factory-backed commitments during this period he celebrated 209 victories, 13 of them in the 24 Hours of Le Mans, eleven in the 12-hour race at Sebring and nine in the ‘Petit Le Mans’ at Road Atlanta,” a piece on Ullrich’s tenure for Audi’s website reads.

“31 driver titles in super touring car racing, in the DTM and in the sports prototype category are credited to him. 57 campaigners were Audi factory drivers during Wolfgang Ullrich’s era and he was responsible for 18 new developments of racing cars – an impressive tally.”