Renault team in financial trouble - report

By on Friday, May 27, 2011

May 27 (GMM) The Renault team is reportedly in financial trouble.

As the naming dispute between sponsor Group Lotus and rival outfit Team Lotus made headlines on Friday, Germany's Auto Motor und Sport said Enstone based Renault is grappling with other problems.

"The court decision comes at the wrong time," read the report.

"There is not as much money flowing from Russia as expected. And since Robert Kubica's accident the interest of other backers has ceased," it added.

The publication said engine supplier and naming partner Renault is owed a two-digit million euro sum.

"Owner Genii Capital is begging its sponsor Lotus for an advance for daily management of the team and development of the car," alleged Auto Motor und Sport.

"In the paddock there are rumours that Renault must go with Cosworth engines next year, if the bills are not paid to Renault. And the French company is looking for another customer. Why not Williams?"

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