Caterham's crowdfunding plan 'sad' for F1 - Lopez

Lotus owner Gerard Lopez believes Caterham's need to seek crowdfunding to try to make it back on the grid is a 'sad' indication about the state that Formula 1 is in

Caterham's crowdfunding plan 'sad' for F1 - Lopez

Caterham's administrators are seeking £2.35 million in funding to ensure they can afford to compete at the Abu Dhabi Grand Prix, which would give them a chance of returning full-time in 2015.

But despite a promising level of backing during the early stages since the scheme was launched, Lopez believes the fact that a team has to get funding from fans is ridiculous considering how much money F1 earns.

"It's a one-off and I think it's sad," he said. "If you think about what it's being used for.

"Formula 1, which is a 1.6 billion dollar business, and distributes over $900 million, and we're being asked if crowdfunding is a good idea to bring a team back. Seriously?

"Then it's even more disastrous than I think it is, in terms of ethics."

Lopez says he was left fuming when a rival team boss joked at him about the crowdfunding plan.

"A team principal came to me and was laughing about the crowdfunding thing," he said.

"I think it's pretty sad. I think it's pretty telling about the sport when people are laughing about that kind of stuff."

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