Lotus pens sponsorship deal with Saxo Bank
20 January 2014 – Lotus has teamed up with Saxo Bank, a Danish investment firm, ahead of the 2014 Formula 1 season.
It is welcome news amid a period of uncertainty for the Enstone-based outfit, with team owner Gerard Lopez revealing to Germany's Auto Motor und Sport last week that £114million of debt had been racked up in 2013.
"We are delighted to begin a relationship with Saxo Bank, a fast-growing online trading and investment specialist who have demonstrated strong support in sport through sponsorships in the world of cycling at the highest level with Team Tinkoff-Saxo," commented team boss Eric Boullier after the agreement was signed.
"Saxo Bank is taking an exciting and proactive approach to this new partnership with Lotus F1 Team and we are looking forward to enjoying a long and fruitful relationship."
Lotus has not yet announced a launch date for its latest Formula 1 contender and will skip the first pre-season test at the Circuito de Jerez, with the team instead planning to attend the pair of gatherings in Bahrain.