Lotus adamant financial issues are not terminal

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Lotus F1 Team CEO Matthew Carter is adamant that the financial issues currently blighting the team are not terminal and that it will be racing in Singapore later this month.

Uncertainty surrounding Lotus’ financial status has come to a head in recent weeks amid talks with French manufacturer Renault about a possible buy-out.

The team was threatened with having its trucks impounded due to legal action from former reserve driver Charles Pic over the Belgian Grand Prix weekend, and reportedly is waiting on a payment from Venezuelan oil giant PDVSA, the backer of driver Pastor Maldonado.

Speaking at last weekend’s Italian Grand Prix, Carter made no secret of Lotus’ financial difficulties, but was adamant that the team would not only race in Singapore on September 20 but also complete the remainder of the season.

“I can guarantee you that we’ll be at Singapore,” Carter said. “One of our sea-freight containers has left, our airfreight will leave next week. We will be in Singapore.

“The financial issues are all over the press, everyone is aware of them. We’re working as hard as we can behind the scenes to get them sorted out. None of them have become terminal, obviously. We’re still here, we’re still racing and we will continue to do that.”

Carter confirmed that negotiations with Renault were still ongoing, but maintained that its support was not the only option for the team to secure a long-term future in the sport.

“The negotiations that were referred to earlier on [with Renault] are going on behind the scenes. I’m hopeful that’s going to secure our future one way or the other going forward.

“And when I say one way or the other it just means we have more than one option going forward to secure the future of the team.

“As far as the race of the races this season, we have a budget in place and we will operate to that budget and will be at all the races.”