Lotus owner Genii to spend big on football

244 views

Jul.7 (GMM) Genii, the private equity fund that owns the Lotus team, is looking into investing EUR 500 million in the world of football.

Team owners Gerard Lopez and Eric Lux are eyeing five second-tier European clubs as well as a dozen player agencies, academies and media rights companies, the Financial Times reports.

"(Big-name clubs) are inherently risky and very difficult to turn around," said Lopez. "We would rather take a club of EUR 40m turnover than one with high aspirations and huge debt."

Despite last year's losses, and the departure of title sponsor Group Lotus, Lopez said the Enstone based F1 team is now on track to break even.

Write a comment
Show comments
About this article
Series F1
Article type Breaking news
Tags enstone, genii, lopez, lotus, lux

User photos

akazoinho
F1

akazoinho

4 photos
Tim Holmes
F1

Tim Holmes

25 photos
EuroRacer
F1

EuroRacer

38 photos
Evan_DeCiren
F1

Evan_DeCiren

27 photos
jimmykwoods
F1

jimmykwoods

2 photos
nickmossdesign
F1

nickmossdesign

1 photos
EricDebris
F1

EricDebris

411 photos
hanmerdesign
F1

hanmerdesign

7 photos
Upload photo