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European commission investigating F1 finances and anti-competitive accusations

The Kingdom of Formula One reminds us of renaissance Florence - ruled by a singular chieftan behind a mask of representative involvement, rife with spectacularly convoluted machinations, awash in innovations that help define our world and far-flung, vindictive misery. If we found out Bernie Ecclestone's real last name was de Medici, well, it would explain a lot. Now after a bit of back-and-forth, the European Commission (EC) has taken aim at the kingdom, investigating whether F1 is anti-competitive and if the FIA has abused its antitrust agreement. The reason for EC scrutiny is that a British member of the European Parliament who represents an area in southwest England, Anneliese Dodds, has fielded complaints from engineering companies in her constituency that recent moves in F1 have put them out of business. She wrote to the EC to question why the FIA now has a stake in F1 when it signed an agreement in 2001 to be solely a governing body and abdicate any stakeholding in the sport. She also questioned the F1 Strategy Group, a group of the six top teams in F1 that makes decisions about the direction of the sport; she says that the Strategy Group not only appears to be a case of the F1 shirking its rule-making duty, it has resulted in unfair treatment of the small teams that aren't in the group. Dodds has a bit of a point. In 2001, the FIA sold F1's commercial rights to Ecclestone for 100 years for a sum of $313.7 million. That was done to placate European regulators who insisted that "the role of FIA will be limited to that of a sports regulator, with no commercial conflicts of interest." Although the rights are ultimately owned by the FIA and bring in a $10M fee every year from Formula One, those rights bring in $1.6 billion each year to Formula One Management (FOM), the company that owns F1. When Ecclestone was trying to get the new Concorde Agreement signed in 2013 that governs the running of the sport, the FIA wouldn't sign, saying it wanted F1 to share a larger slice of its revenue – the FIA has been losing money for years, see. To the get the FIA to sign, Ecclestone sold it a one-percent stake in F1 for $460,000 and gave the FIA a $5M signing 'bonus;' whenever F1 has its IPO, that stake is estimated to be worth about $120 million - not a bad return. Yet, according to the aforementioned 2001 agreement, the FIA can't have that equity stake.

Lotus Evora 400 arrives in December for $89,900

It's been three months to the day since Lotus revealed the new Evora 400. And if you've spent the intervening time pining and wondering just how much you'd need to set aside to put one in your driveway, you need wonder no longer. The British sports car manufacturer has just released pricing for the new-and-improved Evora 400, which will retail at Lotus showrooms in America for $89,900. Now that's a fair bit more than it was charging just last year for an Evora ($68,400) or the Evora S ($78,480), but for all that extra scratch, you get a lot more. The 400-horsepower model packs 55 more horses than the Evora S, weighs almost 50 pounds less, features a new diff, carbon-ceramic brakes, bodywork and interior, and benefits from returned electronics, suspension, gearbox, and more. (Buyers will also be able to opt for an automatic transmission, upgraded interior trim, appearance package, forged alloys and painted calipers, all at additional cost.) The result of all those upgrades – costly as they are – is a 0-60 time of just 4.1 seconds, a top speed of 186 miles per hour and a lap time around the company's test track at Hethel clocked at 1:32 – a full six seconds faster than the existing Evora S. If that sound enticing, North American deliveries are set to commence in December. Related Video: Show full PR text Lotus announces prices for Evora 400 · Prices start at GBP72,000 (UK) · High level of standard specification · Fastest and most powerful production Lotus ever · Deliveries from August 2015 Lotus Cars is delighted to announce the prices of the new Evora 400. The latest supercar from Lotus combines high performance with the legendary Lotus benchmark handling and is lighter, more efficient and dynamically better than ever, providing a purer driving experience. UK prices will start from GBP72,000 (for other markets, see table below). For this price the car benefits from a high level of standard specification including 370 mm composite two piece brake discs from AP Racing, a Limited Slip Differential, automatic air-conditioning and infotainment system including satellite navigation. In addition to this, the options list includes automatic transmission at GBP2,000, Alcantara or Leather trim upgrades at GBP2,500 and metallic paint at GBP900.

Lotus Emira First Edition starts at $85,900

Last October, Lotus priced the Emira V6 First Edition at $93,900 before destination and taxes. That coupe comes with a Toyota-sourced 3.5-liter supercharged six-cylinder making 400 horsepower and 310 pound-feet of torque when fitted with a six-speed manual gearbox, or 317 lb-ft when fitted with a six-speed automatic. Now, the automaker's finally put numbers to the Emira First Edition with the AMG-sourced four-cylinder; it makes 360 hp and 310 lb-ft and costs $85,900 before incidentals. The MSRP is $8,000 less than the forerunner, but $3,000 more than the standard series Emira V6. Copying the template of the Emira V6 First Edition, the four-pot throws in a bunch of extra gear at no cost. The Lower Black Pack, Drivers Pack, Design Pack, and Convenience Pack are included. Twenty-inch diamond-cut two-tone wheels are standard, but silver or gloss black finishes are no-cost options, as are brake calipers in either black, red, silver, or yellow. All the mod-cons in the Emira V6 are here in the Emira, from the 12.3-inch digital gauge cluster and 10.25-inch infotainment screen to the climate control, navigation, and 340-watt KEF audio. Six exterior colors include Dark Verdant, Hethel Yellow, Magma Red, Nimbus Grey, Seneca Blue, and Shadow Grey. The interior offers seven hues, four in various leather shades and three in Alcantara with contrasting stitching. The meat of the matter is that inline-four bought from Germany. Lotus said the AMG M139 motor's been tuned at Hethel for the Emira, its hardware and software tweaked for placement in the middle of the vehicle and to provide a proper Lotus experience. The exhaust is also a Lotus design. It's mated to an eight-speed dual-clutch transmission that's also seen English revision for work in a rear-wheel-drive sports car.  The only way to tell the Emira apart from the Emira V6 would be to get close enough examine the engine cover or read the badge on the C-Pillar. Perhaps handling or exhaust tuning will put them farther apart, but the initial performance specs don't. The Emira is 0.1 second slower to 60 miles per hour than the Emira V6, and maxes out 4 mph short of the Emira V6's 180-mph top speed. That's not a lot of daylight for an $8,000 price difference. The configurator is up now, so shoppers can make up their own minds.