News On F1 - Formula 1 News, Results, Information and Statistics

F1 News  F1 Schedule  F1 Line-up  Teams  Drivers  F1 Tickets  F1 Coverage
 

F1 News - Fernandes smiles after $28m payday for Caterham team - November, 2011

Nov.28 (GMM) His cars were lapped twice at Interlagos on Sunday, but Team Lotus boss Tony Fernandes could not hide his smile.

Despite scoring no points all season, the fact Heikki Kovalainen and Jarno Trulli finished the race ahead of their Virgin and HRT rivals yet again finally cemented the team's tenth-place finish in the 2011 constructors' championship.

It means Team Lotus, becoming Caterham for 2012, is now what is referred to as a 'Column 1' team in terms of the income distribution tables in the sport's Concorde Agreement.

Fernandes is quoted by Finland's Turun Sanomat newspaper: "The monetary value is about 25 million dollars."

And Australia's Sydney Morning Herald 'Business Day' said tenth place is worth around US $28 million to Caterham.

"It's critical. We've gone from earning less than $8 million to $36 million, something in that region," Fernandes is quoted as saying.

Latest F1 News - Mobile version
26 Feb: New Ferrari not quickest in field - Domenicali
26 Feb: Red Bull still best in 2013 - Tost
26 Feb: 2014 French grand prix 'possible' - Prost
26 Feb: Danica Patrick 'not interested' in F1 switch
26 Feb: Report - Gilles Simon working on F1 engine for Honda
26 Feb: Gutierrez plays down link to Carlos Slim
26 Feb: Caterham exhaust 'legal' insists van der Garde
26 Feb: McLaren replaces Mercedes-bound Lowe
25 Feb: 'Engine maps' trouble for Red Bull, Lotus - report
25 Feb: Mercedes-bound Lowe to miss 2013 opener - report
25 Feb: Mercedes 'in group of teams' behind Red Bull - Lauda
25 Feb: Gutierrez expects Hulkenberg to beat him early in 2013
25 Feb: New Ferrari 'much better' than 2012 - Massa
25 Feb: Teams 'will adapt' to new tyre situation - Gutierrez
25 Feb: Tight rules make today's F1 cars 'the same' - Forghieri
25 Feb: Williams removes controversial exhaust trick
25 Feb: Contract 'conflicts' cause of Marussia test snub - Razia
25 Feb: Lotus to fight Red Bull for title - Gutierrez
25 Feb: Marussia 'ahead of Caterham' - Chilton
25 Feb: Sutil will not stay in F1 as test driver

The latest F1 News - Mobile Version

F1 News  F1 Schedule  F1 Line-up  Constructors' Championship  Drivers' Championship  F1 Tickets  Live F1 Coverage

Full Version: Formula 1 News  Formula 1 Schedule  Formula 1 Line-up  Constructors' Championship  Drivers' Championship  Live F1 Coverage  10 'n' Pole  F1 Regulations  The Forums  Motorsport Shop  F1 Merchandise  F1 Tickets  F1 Diecast  F1 Videos  F1 Games

Back To Top