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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 Evora GX to race in U.S. Grand-Am series

The Lotus Evora has taken many forms as a race car over the past few years, starting in 2009 with the Type 124 Endurance Racer built for the FIA GT. Since then, Lotus has developed a GT4 Cup version designed for a one-make series, the Evora GTE that currently competes in the GT class of the ALMS and the recently introduced Evora GTC.
Now, Lotus has released the Evora GX, a variation of the GTC tweaked to specifically meet the requirements of Grand-Am's new GX class that will launch at the start of the 2013 race season. While the two cars are very similar, using the same lightweight carbon fiber and plexiglass bodywork, the GX version gets a thicker U.S.-spec roll cage, a revised front splitter and bumper, a standard Grand-Am rear wing, yellow headlights and a new fuel filler system. ABS and traction control have also been removed per Grand-Am regulations.
Pricing for the Evora GX is listed at $335,000 with each one built to order, and one customer has already taken the plunge. McMahon Raceworks has placed an order and should have the car on the starting grid at the first race next year.

2019 Quail Motorsports Gathering Mega Photo Gallery | Automotive Excellence

For the past 17 years, enthusiasts have flocked to The Quail Motorsports Gathering to see some of the hottest vehicles that automakers the world over have to offer. As you'll see below, 2019 is no different. We've collected image galleries of some of the best and most interesting vehicles that were on display at the event this year, and we've organized them in no particular order below. You'll see older vehicles rubbing fenders with brand-new models, from classic McLaren F1s to the very latest from Bugatti. Enjoy! McLaren F1s at the Quail 01-mclaren-f1-quail View 25 Photos 2020 Rezvani Beast at the Quail 01-2020-rezvani-tank-quail View 11 Photos 2020 Lexus LC Inspiration at the Quail 01-2020-lexus-lc-inspiration-quail View 9 Photos 2020 Acura NSX at the Quail 01-2020-acura-nsx-quail View 8 Photos De Tomaso P72 at the Quail 01-de-tomaso-p72-quail View 13 Photos Ferrari P80/C at the Quail 01-ferrari-p80-c-quail View 12 Photos SSC Tuatara at the Quail 01-ssc-tuatara-quail View 13 Photos Scuderia Cameron Glickenhaus Baja Boot at the Quail 01-scg-baja-boot-quail View 12 Photos 2020 Drako GTE at the Quail 01-2020-drako-gte-quail View 9 Photos Acura Type S Concept at the Quail 01-acura-type-s-concept-quail View 12 Photos Pagani Huayra BC Roadster at the Quail 01-pagani-huayra-bc-roadster-quail View 15 Photos Lotus Evija at the Quail 01-lotus-evija-quail View 14 Photos Lamborghini Huracan Evo GT Celebration at the Quail 01-lamborghini-huracan-evo-gt-celebration-quail View 11 Photos Lamborghini Aventador SVJ 63 Roadster at the Quail 01-lamborghini-aventador-svj-63-roadster-quail View 16 Photos Aston Martin Valhalla at the Quail 01-aston-martin-valhalla-quail View 16 Photos Bugatti Centodieci Unveiling 01-bugatti-centodieci-quail View 17 Photos Featured Gallery Quail, A Motorsports Gathering 2019 View 38 Photos Misc. Auto Shows Acura Aston Martin Bugatti Ferrari Lamborghini Lexus Lotus Convertible Coupe Special and Limited Editions Performance Classics Sedan The Quail