Weather New York, NY +95°F

Charles Pic

Caparo T1

Formula One Teams Burn up $300 Million of Debt, 64.2% from Lotus

The ten teams in Formula One auto racing are under a total debt of $318.2 million, and 64.2% of that belongs to Lotus. Lotus belongs to Genii Capital, a private equity firm founded by Skype investor Gerard Lopez. Creditors have been going after Lotus for the last several months. Its cars were almost impounded during the Belgian Grand Prix last weekend after former reserve driver Charles Pic filed a legal dispute.

Read Full Article

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics