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.
Previous article
Mercedes gives Jazeman Jaafar F1 evaluation test at Silverstone
Next article
Formula 1 rivalries resume at 2013 AUTOSPORT Awards
About this article
| Series | Formula 1 |
| Drivers | Jordan King |
| Teams | Team Lotus , Lotus F1 Team |
| Author | Jonathan Noble |
Albert Park Circuit Modifications Project
Mercedes-AMG F1 Team: Bahrain GP Race Debrief
The delay that quashed Aston Martin’s last F1 venture
Aston Martin’s only previous foray into Formula 1 in the late 1950s was a short-lived and unsuccessful affair. But it could have been so different, says NIGEL ROEBUCK
Verstappen exclusive: Why lack of car-racing titles won't hurt Red Bull's ace
Max Verstappen’s star quality in Formula 1 is clear. Now equipped with a Red Bull car that is, right now, the world title favourite and the experience to support his talent, could 2021 be the Dutchman’s year to topple the dominant force of Lewis Hamilton and Mercedes?
Are we at peak F1 right now?
For many, many years Formula 1 has strived to do and to be better on all fronts. With close competition, a growing fanbase, a stable political landscape and rules in place to encourage sustainability, 2021 is on course to provide an unexpected peak
How crucial marginal calls will decide the Red Bull vs Mercedes battle in F1 2021
The longer Red Bull can maintain a performance edge over Mercedes, the better the odds will be in the team’s favour against the defending world champions. But as the Bahrain Grand Prix showed, many more factors will be critical in the outcome of the 2021 Formula 1 World Championship
How Williams’ new structure adheres to a growing F1 trend
Williams held out against the tide for many years but, as MARK GALLAGHER explains, the age of the owner-manager is long gone
When a journeyman driver's F1 career lasted just 800m
Nikita Mazepin’s Formula 1 debut at the Bahrain Grand Prix lasted mere corners before he wiped himself out in a shunt, but his financial backing affords him a full season. Back in 1993 though, Marco Apicella was an F1 driver for just 800m before a first corner fracas ended his career. Here’s the story of his very short time at motorsport’s pinnacle
The nightmare timing that now hinders Mercedes
Mercedes and Lewis Hamilton took victory at the Bahrain Grand Prix despite, for a change, not having the quickest car. But any hopes of developing its W12 to surpass Red Bull's RB16B in terms of outright speed could not have come at a worse time.
How Raikkonen's rapid rise stalled his team-mate's F1 career climb
Kimi Raikkonen’s emergence as a Formula 1 star in his rookie campaign remains one of the legendary storylines from 2001, but his exploits had an unwanted impact on his Sauber team-mate’s own prospects. Twenty years on from his first F1 podium at the Brazilian GP, here’s how Nick Heidfeld’s career was chilled by the Iceman
