Lotus owner Genii to spend big on football

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.