Lotus F1 Racing seeking cash

There are four new teams entering F1 in 2010. At least that’s the official count but as to four teams actually making it to the grid, well, that’s another story. If you believe rumors, as many as two fo the new teams may not see the light of day and the cross hairs have been leveled at USF1 for some time now.

Today, Team Lotus F1 has made a call for investors to help with its F1 program and speciically calling out Petronas in the process:

“What is wrong with asking for sponsors from GLCs like Petronas?” said Kamarudin Meranun.

“If Petronas can sponsor a foreign F1 team, why should the national petroleum company not sponsor a local team?”

The GLC’s, or government-linked companies have been a target for Lotus F1 during the last couple of months and as Petronas is a Malaysian company, it only seems likely they would support the Malaysian-based team. The twist? Petronas has a team it is currently sponsoring in the form of BMW’s recently sold endeavor or Qadbak or the Hinwill-based team.

Interesting too that it seems Team Lotus was capable of raising £28 million as start-up capital but without former FIA president Max Mosley’s infamous £40 million budget cap, this figure seems likely to be a big stumbling block to the teams future prospects.

As Brawn GP has taught us this week, raising capital in a down economy is no easy task. The world constructors champions are having a difficult time finding the needed funds to retain the skills of world drivers champion Jenson Button and if the 2009 champions have cash problems, it is not unlikely that the other new teams are as well.

This brings me to my debate regarding Mosley’s disdain for the manufacturers and desire for an increase in privateers and budget cap regulations. If a team like USF1 or Lotus can’t raise the funds needed to to compete at a £50 million operating budget, just how safe is F1 from a yearly exodus of small teams reliant on one, maybe two, major sponsors?

It takes both manufacture and privateer in the current state of F1 to keep the series rolling and I humbly suggest that new FIA president Jean Todt re-think his commitment to perpetuation the Mosley adversity toward manufactures.

At this time and with this economy, the FIA and commercial rights holder, FOM, need the large companies to keep the series alive and the cash flowing to present a race at the level, although reduced, currently found in F1.

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