Quantum Motorsport still working on Lotus F1 team investment
Quantum Motorsport's investment deal to buy into the Lotus Formula 1 team is still being worked on, despite the team announcing Pastor Maldonado for next year
The signing of Maldonado has been interpreted by some as an indication that Quantum's efforts to buy a 35 per cent stake in the team had failed.
However, high level sources from within the investment group as well as the Enstone outfit have revealed that efforts to complete the Quantum deal are ongoing and have been ramped up over recent days.
It is understood that meetings are taking place this weekend between Quantum representatives and Lotus owners Genii Capital to finally sort out the situation.
It is also hoped that the banking complications that have prevented the transfer of monies to Lotus' accounts can now be overcome soon to ensure the deal is complete.
Getting the financial situation resolved has been complicated by the fact that Quantum is backed by numerous investors, including business interests from Russia and Abu Dhabi, the Kuwaiti Royal Family and another major Middle Eastern oil-producing nation.
Despite the numerous delays in completing the deal, Lotus and Genii have kept faith in the project because in October the monies were actually transferred to their accounts, prior to a request from authorities for it to be resubmitted in smaller amounts because of strict banking stipulations.
With Maldonado now confirmed for next year, Lotus is no longer under immediate pressure to rush the Quantum deal through as the team's short-term future is at least secure.
Mercedes gives Jazeman Jaafar F1 evaluation test at Silverstone
Formula 1 rivalries resume at 2013 AUTOSPORT Awards
The “solemn promise” that cost quiet hero Brooks an F1 title
After two terrifying crashes, one of the best British racers of the 1950s retired before his career peaked. But that’s why GP Racing’s MAURICE HAMILTON was able to speak to Tony Brooks in 2014. Like his friend Stirling Moss, Brooks was regarded as one of the best drivers never to have won the world championship. Here, as our tribute to Brooks who died last month, is that interview in full
Inside the Faenza facility where AlphaTauri’s F1 pragmatic vision is realised
AlphaTauri’s mission in F1 is to sell clothes and train young drivers rather than win the championship – but you still need a cutting-edge factory to do that. Team boss Franz Tost takes GP Racing’s OLEG KARPOV on a guided tour of a facility that’s continuing to grow
Connecting two of Ferrari's favourite F1 sons
Gilles Villeneuve's exploits behind the wheel of a Ferrari made him a legend to the tifosi, even 40 years after his death. The team's current Formula 1 star Charles Leclerc enjoys a similar status, and recently got behind the wheel of a very special car from the French-Canadian’s career
How a 30cm metal wire triggered open warfare in the F1 paddock
Porpoising has become the key talking point during the 2022 Formula 1 season, as teams battle to come to terms with it. An FIA technical directive ahead of the Canadian Grand Prix and a second stay appearing on the Mercedes cars only served to create a bigger debate and raise tensions further
Does Verstappen have any weaknesses left?
Having extended his Formula 1 points lead with victory in Canada, Max Verstappen has raised his game further following his 2021 title triumph. Even on the days where Red Bull appears to be second best to Ferrari, Verstappen is getting the most out of the car in each race. So, does he have any weaknesses that his title rivals can exploit?
How F1's future fuels can shape the automotive sector
In 2026, Formula 1 plans to make the switch to a fully sustainable fuel, as the greater automotive world considers its own alternative propulsion methods. Biogasoline and e-fuels both have merit as 'drop-in' fuels but, equally, both have their shortcomings...
The breakthrough behind Sainz’s best weekend of F1 2022 so far
OPINION: Carlos Sainz came close to winning in Monaco but needed that race’s specific circumstances for his shot at a maiden Formula 1 victory to appear. Last weekend in Canada, he led the line for Ferrari in Charles Leclerc’s absence from the front. And there’s a key reason why Sainz has turned his 2022 form around
Canadian Grand Prix Driver Ratings 2022
Plenty of high scores but just a single perfect 10 from the first Montreal race in three years, as Max Verstappen fended off late pressure from Carlos Sainz. Here’s Autosport’s assessment on the Formula 1 drivers from the Canadian Grand Prix