Gerard Lopez has lashed back at reports suggesting Lotus team owner Genii is in dire financial health.
The Luxembourg newspaper Tageblatt reported recently that Genii, headed by Lopez and his business partner Eric Lux, is recording ever-growing losses and debts.
Britain's Independent newspaper said Lopez, although based in Luxembourg, flew in his private jet to Genii's London headquarters to "put the record straight".
"It's absurd to say that Genii has financial problems," he insisted. "Yes, Lotus has lost money, like every other F1 team in the world."
Lopez said the Enstone based team cost Genii "about EUR 50 million" last year and debt is currently about 100 million, but "the rest of Genii is profitable".
Romain Grosjean, Lotus E22 (Photo: WRI2)
"We support Lotus with debt, not sponsorship like the other big teams," he explained. "People are trying to compare apples with pears when it should be apples and apples."
The newspaper also said Lotus' accounts for 2013 will show improved figures.
"What's amusing to us," Lopez continued, "is that Lotus - the David against the Goliaths - is always in the public eye more than the big teams like Red Bull and Ferrari.
"But F1 is a bitchy world and smear campaigns between rival teams are commonplace."
Lexus has finally kicked off production of its compact crossover NX in Japan. The first examples have left the production line from the Miyata plant last week.
It will be the first time that Lexus offers a vehicle in this segment. Similarly, it will also be the first time that the manufacturer offers a turbocharged engine, one of the two options including a hybrid powertrain.
For now, about 6,500 Lexus NX have been pre-ordered in Japan; tens of thousands of reservations are expected to come from other markets.
Scuderia Toro Rosso announced that the newly recruited Red Bull Junior Team member, 16-year-old Max Verstappen will drive for the team from the start of the 2015 Formula 1 season, alongside Daniil Kvyat.
After becoming karting world champion, Max, the son of former F1 driver Jos, made a smooth transition to the highly competitive FIA Formula 3 European Championship, proving his ability by winning 8 of the 27 races held to date, which puts him in contention to take the title.
This means that Jean-Eric Vergne has to find a new home.
“Jean-Eric has produced strong performances, but unfortunately he was also hindered by some reliability problems, especially in the first half of the current season. We hope that we have resolved these problems and that he will be able to end the second half of this season on a high note and thereby show that he still deserves another opportunity in Formula 1,” said team principal, Franz Tost.
Four-time NASCAR Sprint Cup champion Jeff Gordon held on to win Michigan after passing Penske's Joey Logano on final restart.
Joey Logano, No. 22 Shell-Pennzoil Ford, and Jeff Gordon, No. 24 Axalta Chevrolet. (Photo: Getty Images/NASCAR)
Kurt Busch hit the Turn 2 wall shortly after a lap 178 restart and the ensuing yellow flag bunched the field for a final sprint to the finish.
Gordon, who faced questions about his struggles on restarts earlier this season, passed Joey Logano at the start of lap 183 and kept his Chevrolet in front when Logano got next to him on the following lap.
Logano fell back after falling out of a draft and Gordon never was challenged again as he rolled to his third series victory of the season.
Jeff Gordon's win at Indianapolis last month followed a similar script.
Kevin Harvick was second for the fourth straight race here, followed by Paul Menard, Logano and Dale Earnhardt Jr. Earnhardt, who started the day with a four-point series lead on Gordon, dropped to second after the checkered flag.
Danica Patrick, driver of the No. 10 GoDaddy Chevrolet triggered a pile-up. (Photo: Getty Images/NASCAR)
A lap 26 crash that began with Danica Patrick's spin in Turn 1 collected eight other cars, including Matt Kenseth, who started the day third in the Sprint Cup standings but still needing a victory to guarantee a spot in the new Chase for the Sprint Cup Series format.
Sprint Cup point standings:
1 . Jeff Gordon, 816 points
2 . Dale Earnhardt Jr., 813
3 . Brad Keselowski, 733
4 . Joey Logano, 714
5 . Matt Kenseth, 709
Former Formula 1 and ChampCar driver, Alessandro Zanardi is preparing to tackle his next big challenge: a triathlon. On 11th October, the BMW works driver and Brand Ambassador will participate in his first ever long-distance triathlon, which will be held in Hawaii.
Forty seven-year-old BMW works driver Zanardi is one of the best paracyclists in the world, a fact he has proven by winning two gold medals at the 2012 Paralympic Games in London and by being crowned a double paracycling world champion in 2013.
Alex Zanardi (Photo: BMW AG)
The triathlon on the Hawaiian Island of Big Island though will be another tough challenge for the Italian.
The competition consists of three parts: First, a 3.86 kilometre swim in the open ocean awaits the competitors. Zanardi, who has had both legs amputated, will be allowed to swim with a wet vest.
Then the competitors have to cycle for 180.2 kilometres. Zanardi will tackle this stage with his handcycle, with which he won his Paralympic gold medals. The triathlon will be completed with a 42.195 kilometre marathon, which Zanardi will contest with an Olympic wheelchair.
So in total, the former ChampCar champion will have to complete 226.255 kilometres - solely by the power of his arms.
Mercedes F1 Lewis Hamilton's younger brother Nicolas announced his plans to compete in the exciting British Touring Car Championship in 2015.
He would become the first disabled driver to compete in the highly competitive BTCC.
Hamilton "Junior" was born with cerebral palsy and used to follow his older brother on the Formula 1 circuits.
Despite his lack of experience, he made his racing debut in 2011 as part of the Renault Clio Cup. He also raced in the
European Touring Car Cup last year.
“I am excited to announce my ambitions to become the first disabled athlete to compete in the Dunlop MSA British Touring Car Championship in 2015,” he declared on the series' official web site.
On Saturday night Alexandra O'Blenis became the first lady driver to ever win a Sportsman feature at Speedway 660, located in Geary, New Brunswick.
Alexandra, who also won her Martin's Home Heating Sportsman heat race, won the 30-lap feature ahead of Drew Greenlaw and Brent Roy. Jason Shannon won the other heat race and the dash.
"I am so pumped right now and can't believe I just won a Sportman feature at Speedway 660, this team has worked so hard to give me a great car and to do this as a rookie is just incredible" said a jubilant O'Blenis from the Riverview Ford Victory Lane. "A couple of weeks ago I led most of the Sportsman feature and got passed with three laps to go, but tonight there was no way I was going to let that happen."
Alexandra wasn't the only O'Blenis to visit victory lane on Fan Appreciation Night, which was presented by the New Hot 92.3 - Fredericton's Number One Hit Music Station.
Her sister Courtney dominated the Westwood Estate Apartments Bandolero feature to pick up the win. And that put the pressure on their Father Dave who had to drive the wheels off his race car to get to victory lane in the Re/Max Group Four Realty Pro Stock feature.
Cole Boudreau had another great run to take second in the Pro Stock feature, while Brady Creamer finished third. Brian Gillespie won his heat race and the dash, while Big Kevin Moore took the other heat. Cole Tanner and Levi Rossiter finished second and third in the Bando feature. Rossiter also won his heat race and Ashton Tucker took top spot in the other heat.
Geoff Tugwell continued his streak of strong performances in the DMR Auto Sales & Service Street Stock division. Tugwell picked up the Jensen Financial Hat-Trick Award by winning his heat, dash and feature. Benji Ruff was second in the feature, followed by Tyler Seveck who also won the other Street Stock heat race.
Matt Crocker continued his winning ways by taking another Fredericton Gun Shop Sharp Shooter feature. Crocker crossed the finish line ahead of Jeremy Doran and Malcolm Suley. Curtis Collins and Kyle MacKinnon won the Sharp Shooter heat races.
Next Saturday, it's the Night of Champions at Speedway 660. Rookie of the Year Awards and Championship will be decided in all five divisions. And then it's SpeedWeekend 2014 from August 29 until September 1.
Saleen Automotive pushed in a new direction today with the unveiling of its first electric car, the 4Sixteen, based on the Tesla Model S. And the company's founder and CEO, Steve Saleen, says it has him sold on electric cars.
Beijing's slew of antitrust investigations into the pricing practices of foreign automakers is more likely to harm Chinese brands than to protect them.
As self-driving cars become increasingly important, Volvo has unveiled an ambitious plan to position itself at the forefront of this cutting-edge technology.
A consumer looking to personalize a Jeep Grand Cherokee, Wrangler or Cherokee designs a map online that will later be installed by a dealer on the SUV's hood.
The UAW union, which lost a controversial organizing vote in February at VW's Tenessee assembly plant, has nearly enough members in its newly formed local for the automaker to recognize it as exclusive bargaining agent for the plant.
Automakers, aided by government subsidies, produced 5,799 electric vehicles and plug-in hybrids in China in July, 10 times more than in the same month last year.
Alex Tagliani scored another top 5 result, Saturday night at Mid-Ohio in the NASCAR Nationwide race, for the prestigious Team Penske.
After qualifying second aboard his No. 22 Ford Mustang, Tagliani stayed at the front of the pack almost all race long.
Slowed down by a penalty for speeding in the pits, the Canadian race back into the top 5 and by lap 52 was up into second place.
Alex Tagliani No. 22 Ford Mustang (Photo:Getty Images/Sarah Glenn)
In the end, he had to settle for fifth place, behind winner Chris Buescher, Regan Smith, Brian Scott and Chase Elliott.
"Mid-Ohio was an important race for Penske in the fight in the owners' championship with Joe Gibbs Racing and my job was to score as many points as possible," said Tagliani.
"When Sam Hornish Jr came into the pits, my crew chief told me to just nurse the car home, so I did."
Ed Carpenter Racing and Sarah Fisher Hartman Racing announced that they will form a multi-car organization for the 2015 Verizon IndyCar Series. The team will be known as CFH Racing.
The two single-car teams, based in Indianapolis, will be headquartered at the Sarah Fisher Hartman Racing shop in Speedway, Ind., just a few blocks from the Indianapolis Motor Speedway.
"I am very excited about this new opportunity to merge Ed Carpenter Racing with Sarah Fisher Hartman Racing in CFH Racing," Carpenter said.
Fisher, the first woman to win an IndyCar Series pole, became the first female team owner in the IndyCar Series in 2008. She announced her retirement from driving in 2010.
"The merger of the two teams is a big-picture plan," she said.
"At the nucleus of all parties, there is a lot of synergy that has great potential for the future. Working with Ed, and capturing that first win, was a foothold in our team, and I look forward to the many more that will come as a result of bringing all the parties together."
Donald Chisholm scored an emotional and convincing victory in front of the hometown crowd as he took his first career NASCAR Canadian Tire Series presented by Mobil 1 checkered flag in Saturday's Wilson Equipment 300 at Riverside International Speedway.
The victory for Chisholm, from Antigonish, came in his 16th career start. A part-time competitor since 2007, he became the 15th different winner in Canadian Tire Series history.
Chisholm, whose family owns Riverside, captured the victory less than two months after his father and track founder, John, passed away.
Donald Chisholm (Photo: Matthew Murnaghan/Getty Images for NASCAR)
Chisholm was followed across the finish line by only three other lead lap cars: Alex Labbe, D.J. Kennington and Andrew Ranger. Both Kennington and Ranger passed Chisholm in the closing laps to rejoin the lead lap.
Mark Dilley, points leader L.P. Dumoulin, J.R. Fitzpatrick, Noel Dowler and rookies John Flemming and Matthew Scannell brought home the top 10.
Jason Hathaway appeared poised to defend his Riverside win from a year ago. He was cruising in the lead when he collided with the spun Flemming car while navigating lap traffic on Lap 240.
With three races remaining, Dumoulin holds a 26-point lead on Ranger and Fitzpatrick. Hathaway, 47 back, and Kennington round out the top five.
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Robert Kubica's experience on asphalt should help him next week-end in Germany for the World Rally Championship (WRC) season's first tarmac event.
"Robert has got more experience (on asphalt)," said M-Sport team principal Malcolm Wilson. "He'll definitely be challenging for wins. I have no doubt about that."
Indeed, the pole entered 76 grands prix over his five seasons in F1. So he probably knows better than anyone else in the WRC how to get the most out of a car on asphalt.
Robert Kubica, Ford Fiesta RS WRC (Photo: WRi2)
Earlier this season, he led the Rallye Monte-Carlo, which is almost considered as a tarmac event, before crashing out on a patch of black ice.
And last month, in preparation for the Rally Deutschland, Kubica entered the Italian Rally Internazionale del Casentino, in Tuscany. He won 10 out of 12 stages on his way to victory.
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