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Coca-Cola returning to F1 with Lotus sponsorship [w/videos]

Even before Red Bull Racing became a record-breaking three-time Constructor's Champion in Formula One, it has dominated conversations both as a team and as an energy drink. After seven years of "Red Bull this" and "Red Bull that," Coca-Cola is reportedly ready to jump into the F1 fray with its Sweden-based energy drink Burn.
Rumors had placed Coca-Cola's entry with McLaren F1, but it's actually Lotus that has secured the deal. We have no idea what the sponsorship will look like, but the website for Burn says that "We [intend] to foster that creativity by incorporating art and music in a way that will break the conventions of traditional F1 sponsorship," Lotus F1 team principal Eric Boullier adding "We are excited to partner with burn to build a new and innovative model for sponsorships that will combine experiences, content creation and social media..."
Since most - including this writer - have no idea what Burn is, we've included a couple of Burn commercial spots to help get us up to speed, which you'll find below. The 2012 season hasn't even ended, and we're already looking forward to 2013...

Lotus F1 team $186 million in debt

The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties were until now unknown, but a new report from Germany's Auto Motor und Sport reveals that the team is in the red to the tune of £114 million - equivalent to $186 million at today's conversion rates.
The lack in cashflow is widely believed to have been the impetus for Kimi Raikkonen's departure from the team in order to return to cash-rich Ferrari, and was one of the major factors in selecting Pastor Maldonado to replace him instead of a more proven and accomplished driver of Raikkonen's caliber. Maldonado brings with him major sponsorship funds from Venezuelan state oil company PDVSA. In speaking with the German publication, however, Lotus F1 chairman (and Genii co-founder) Gerald Lopez revealed that the lion's share of the team's debt - £80 million or $130 million - is with Genii Capital itself, a negative balance that isn't likely to affect the team's day to day. That leaves about $56 million which the team owes to outside parties, including Raikkonen, who has yet to receive the full pay he was contracted for.
The team has opted to sit out the first test session of the Formula One season at Jerez. Its 2014 chassis isn't ready and, given the relatively cold temperatures at this point in the year, the team wouldn't expect to learn much about tire performance and degradation. As far as the new engine goes, Lopez says that any knowledge gleaned by Red Bull, Toro Rosso and Caterham at the test session will ultimately be shared with Renault and through it back to Lotus as well. Lotus engineers helped develop the new KERS system with Renault regardless, so the team already has the energy-recovery data it needs. The team will instead prepare for the second test session in Bahrain, by which point it aims to have its new car ready to kick off the season. Lopez says that it has secured the funding to offset its costs for the season ahead, and that it is working to pay down its debt.

Lotus readying Evora crossover?!

If it seems to you like every sports car manufacturer is getting into the crossover game, that's because it's pretty much true. And now, we potentially have one more to add to the list, as Britain's Car magazine reports that Lotus – yes, Lotus – is proceeding with plans to build a crossover. Rather than build a new crossover from the ground up, however, Lotus is said to be developing a high-riding version of the existing Evora. It's tipped to keep its rear-drive configuration (rather than going with a proper all-wheel-drive system), with a raised ride height and more rugged styling. In that respect, it may emerge more like a Local Motors Rally Fighter than a Porsche Cayenne challenger. That may yet emerge as not such a bad thing as it may seem on the surface, but for those purists who'd balk at the notion of an off-road Lotus, the British automaker has other plans in store as well. The crossover would arrive on the heels of a refreshed version of the existing Evora, a potential convertible version of the same, and a hardcore, track-focused successor to the 2-Eleven is also said to be in the works. In the end, Lotus would only be the latest in a long string of established sports car makers to get into the crossover game. Porsche of course led the way with the Cayenne and followed up with the Macan, Maserati is set to follow suit, and last we heard, Lamborghini was still awaiting approval to build the Urus concept.