The Lotus Formula 1 team has managed to wipe just over £56 million [$84.5m] from its debts for 2014.Following a protracted period of negotiations and due diligence regarding Renault's takeover, with principal contracts finally signed last week, the team is finally due to submit its 2014 accounts to Companies House...

Lotus CEO Matthew Carter claims the Formula 1 team has "financially turned a corner" just over a year on from being forced to implement crisis cost cuts.For 2013 the team made a staggering loss of $97 million, casting severe doubt on its future in the sport. Upon Carter's arrival in...

Bernie Ecclestone wants big teams to run third cars in Formula 1, and says smaller outfits should quit the sport if they cannot afford it.Just a week after F1's commercial boss said he would be happy if some of grand prix's backmarkers closed down, Ecclestone has revealed his vision for...