Mansoor Ijaz, head of Quantum Motorsports - an investment consortium made up of Middle Eastern investors, has revealed that major progress has been made with the the long-awaited deal between the company and the Lotus F1 Team.
The main story over the Abu Dhabi Grand Prix weekend was the news that Kimi Raikkonen could miss the final two races of the 2013 season, due to on-going financial issues at Lotus preventing him from being paid.
With the Quantum deal taking longer than expected, Lotus simply didn't have the money to pay the Finn. Sky Sports F1's Ted Kravitz also believes Romain Grosjean is also waiting to be paid for his 2013 driving services.
Raikkonen missed all media duties at the Yas Marina Circuit on Thursday and only competed in the race weekend because "an understanding" between himself and the Enstone outfit had been made.
However, there has been a major step forward in the agreement with Ijaz confirming that his company has completed their side of the contract. It just needs final approval from Lotus team owners Genii Capital.
The investment group plan to buy a 35% stake in the team through shares that have been issued by team owner and majority shareholder Genii.
"There is no question that the deal is definitely happening," Ijaz told AUTOSPORT. "I will even go out as far as to say that it has now been completed from our side in terms of what has to be done."
Should Genii wish to decrease their involvement in the team, there is also an option for Quantum Motorsports to take over Lotus: "We have options - I won't go into the details of those options - but the options do allow us in a fixed amount of time to take control of the team later on. We will do that in a way that is very co-ordinated with our partners at Genii."
He also confirmed that the deal will help Lotus to pay off its debts to suppliers and settle its pay dispute with Raikkonen, who they have apologised to.
"We have apologised to Kimi," he said. "We intend to not only make sure that they are made whole, and then some, but we are intending also to compensate our employees and management team for having taken it on the chin from you guys [the media] in recent weeks."
Credible sources have also revealed that talks between Lotus owner Gerard Lopez and Raikkonen's manager Steve Robertson took place on Sunday morning, with an agreement being made for the Finn to complete the season.
The Quantum deal could now open the door for Nico Hulkenberg to replace the 2007 world champion, who moves to Ferrari for 2014. Lotus and Quantum are keen to have the German in the car next year, but there is a contract on the table for Pastor Maldonado and his considerable sponsorship package if the deal does not go ahead.
Lotus team principal Eric Boullier didn't confirm the news but said an announcement would be made very shortly.
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| (c) Octane Photographic |
With the Quantum deal taking longer than expected, Lotus simply didn't have the money to pay the Finn. Sky Sports F1's Ted Kravitz also believes Romain Grosjean is also waiting to be paid for his 2013 driving services.
Raikkonen missed all media duties at the Yas Marina Circuit on Thursday and only competed in the race weekend because "an understanding" between himself and the Enstone outfit had been made.
However, there has been a major step forward in the agreement with Ijaz confirming that his company has completed their side of the contract. It just needs final approval from Lotus team owners Genii Capital.
The investment group plan to buy a 35% stake in the team through shares that have been issued by team owner and majority shareholder Genii.
"There is no question that the deal is definitely happening," Ijaz told AUTOSPORT. "I will even go out as far as to say that it has now been completed from our side in terms of what has to be done."
Should Genii wish to decrease their involvement in the team, there is also an option for Quantum Motorsports to take over Lotus: "We have options - I won't go into the details of those options - but the options do allow us in a fixed amount of time to take control of the team later on. We will do that in a way that is very co-ordinated with our partners at Genii."
He also confirmed that the deal will help Lotus to pay off its debts to suppliers and settle its pay dispute with Raikkonen, who they have apologised to.
"We have apologised to Kimi," he said. "We intend to not only make sure that they are made whole, and then some, but we are intending also to compensate our employees and management team for having taken it on the chin from you guys [the media] in recent weeks."
Credible sources have also revealed that talks between Lotus owner Gerard Lopez and Raikkonen's manager Steve Robertson took place on Sunday morning, with an agreement being made for the Finn to complete the season.
The Quantum deal could now open the door for Nico Hulkenberg to replace the 2007 world champion, who moves to Ferrari for 2014. Lotus and Quantum are keen to have the German in the car next year, but there is a contract on the table for Pastor Maldonado and his considerable sponsorship package if the deal does not go ahead.
Lotus team principal Eric Boullier didn't confirm the news but said an announcement would be made very shortly.
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