Lotus finances improving

On the track Lotus’ performances have been poor, but off the track their financial performances have shown a great improvement.

Last season the team showed financial losses of £64million.

Then driver Kimi Raikkonen was involved in a season-long pay dispute, whilst the team spoke to potential consortium to invest or buy the team.

In the end the team lost out on Raikkonen and number one replacement target Nico Hulkenberg as the takeover collapsed.

They instead opted for Pastor Maldonado from Williams, whilst a Grand Prix winner, his main pull was the vast quantities of sponsorship he brought to the team via the Venezuelan oil company that supports him.

That sponsorship will have no doubt helped the team, but a restructure of the teams staff members has also played its part in seeing this seasons loss to £6million [for the half year].

James Allison stepped down as Lotus technical director in May 2013 and made the move to Ferrari, whilst team principal Eric Boullier also left the team at the end of the season to move to McLaren.

‘The goal for next year is to be somewhere near financially stable and have a reasonable car on track.’ Lotus Chief executive officer Matthew Carter told the BBC.

‘We still have 470 people, which still puts us fairly high up there in terms of head count in F1.

‘We lost a lot of high-calibre staff at the back end of last year and to replace those sort of people takes time. We have gradually done that.

‘We have some new guys starting in aero that come from another team that start 1 October. There are areas we have replaced people and strengthened.’

Talk around the paddock suggests that Lotus will be switching engine supplier for the 2015 Formula One World Championship, dumping the Renault power-train for the all conquering Mercedes.