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.

Have a decent tax refund coming? Buy Ayrton Senna’s 1993 Monaco-winning car

Photos courtesy Bonhams
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Are you expecting a better than normal tax refund? Did you get a very nice bonus from your company due to the new tax cut?

Well, if you have a good chunk of change hanging around and potentially can be in Monaco on May 11, you can have a chance to bid on the 1993 McLaren-Ford MP4/8A that the late Ayrton Senna drove in — and won — that year’s Monaco Grand Prix.

We’re not just talking about any race winner. It’s also the same car Senna won his sixth Monaco Grand Prix, and the chassis bears the number six.

It’s also the same car Senna piloted to that season’s F1 championship (his third and final title before sadly being killed the next year) and is the first McLaren driven by Senna that’s ever been sold or put up for auction.

The famed Bonhams auction house is overseeing the sale of the car.

“Any Grand Prix-winning car is important, but to have the golden combination of both Senna and Monaco is a seriously rare privilege indeed,” Bonhams global head of motorsport, Mark Osborne, told The Robb Report.

“Senna and Monaco are historically intertwined, and this car represents the culmination of his achievements at the Monegasque track. This is one of the most significant Grand Prix cars ever to appear at auction, and is certainly the most significant Grand Prix car to be offered since the Fangio Mercedes-Benz W196R, which sold for a world record at auction.”

How much might you need? You might want to get a couple of friends to throw in a few bucks as well.

“We expect the car to achieve a considerable seven-figure sum,” Osborne said.

The London newspaper “The Telegraph” predicts the car will sell in the $6.1 million range.”

“This car will set the world record for a Senna car at auction,” Osborne said. “We are as certain as you can be in the auction world.”

While you won’t be able to take the car for a test drive before the auction, it’ll be ready to roar once you pay the price.

“In theory, the buyer could be racing immediately upon receipt of the cleared funds after the auction,” Osborne said. “All systems are primed and ready.”