Lotus boss says majority of F1 teams battling funding issues

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Lotus chairman Gerard Lopez (pictured) has told a Russian website that he believes most of the Formula One paddock is dealing with financial issues, declaring that “for 80 percent of the teams, their financial situation is no better than ours.”

The cost of doing business in the world’s most popular motorsport has become a very big problem to the smaller teams. A cost cap is set to debut in 2015, but considering the amount of spending that is done by the bigger teams like World Champion Red Bull, one may have the sense of “I’ll believe it when I see it” when it comes to that initiative.

This past year, Lotus was in the headlines for its money woes as they were for Kimi Raikkonen and Romain Grosjean’s exploits on the track. However, Lopez noted to F1News.ru that with the global economy still limping along, teams have been forced to abandon the usual investment/sponsorship route.

“I can go to potential investors and say ‘I want to sell millions of cars running on renewable energy and hybrid technology’ and they tell me ‘Wow! Let’s see what we can do!,” he said to the Russian site.

“But if I say that I want money for F1, to participate in one of the biggest sporting events in the world, you don’t get the same answer.”

And with that comes the side effect of choosing drivers on the amount of funding they bring to the table instead of on pure talent.

Lotus can certainly relate, as team principal Eric Bouiller has said that Pastor Maldonado’s extensive sponsorship played a role in him gaining their second race seat alongside Grosjean in 2014.

F1 2017 driver review: Lewis Hamilton

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Following on from the driver reviews from the Verizon IndyCar Series, MotorSportsTalk kicks off its Formula 1 recaps by looking back on Lewis Hamilton’s championship year.

Lewis Hamilton

Team: Mercedes AMG Petronas
Car No.: 44
Races: 20
Wins: 9
Podiums (excluding wins): 4
Pole Positions: 11
Fastest Laps: 7
Points: 363
Laps Led: 527
Championship Position: 1st

Lewis Hamilton may have wrapped up his fourth Formula 1 world title with two races to spare, but his margin of victory was far from representative of what was arguably his greatest championship victory yet.

Mercedes entered 2017 bidding to become the first team to defend its titles across a seismic regulation change, and appeared to be on the back foot early on after Ferrari impressed in pre-season testing and won the opening race through Sebastian Vettel.

Hamilton was left wrestling with a “diva” of a car, as coined by Mercedes team boss Toto Wolff, but was able to get on top of it by the second race of the year in China, taking a dominant win in wet-dry conditions.

The win was representative of Hamilton’s form through the first portion of the season. When he won, he won in style – as in Spain, Canada and on home soil in Great Britain – but the off weekends saw him struggle.

Heading into the summer break, Vettel’s championship lead stood at 14 points, with the pair’s on-track rivalry having already spilled over in Baku when they made contact behind the safety car.

But Hamilton then produced the form that propelled him to titles in 2014 and 2015, breaking the back of the season through the final flyaways. As Vettel and Ferrari capitulated over the Asian rounds, picking up just 12 points when a full score of 75 for three wins was certainly in reach, Hamilton capitalised and put himself on the brink of the title.

While Hamilton’s run to P9 in Mexico was a messy way to wrap up his hardest-fought title to date, getting across the line and the job done was a significant result.

Unlike his last two titles, Hamilton was tasked with an enemy outside of the team in this title race and a car that arguably wasn’t the fastest on the grid.

But his unquestionable talent and ability to dig deep to get himself out of tough situations – Singapore and Brazil being two key examples where the result was far from expected – proved crucial once again.

Hamilton is now in the annals of F1 history as one of its all-time greats. The pole record is his, and only two drivers can boast more world titles than him (Michael Schumacher and Juan Manuel Fangio).

Depending on how long he wants to continue racing, going down as F1’s statistical all-time great is certainly not out of the realm of possibility.

Season High: Charging from the pit lane to P4 in Brazil, a race he could have even won.

Season Low: Dropping out in Q2 in Monaco, only recovering to P7 in the race.