F1 CEO Bernie Ecclestone saved the "struggling" Lotus F1 team last month by handing over £1.5M ($2.3M) to pay the wages of 400 staff, according to Kevin Eason of the LONDON TIMES. But "fears are growing that the cash-strapped Lotus squad may not be able to race at the Italian Grand Prix this weekend in Monza." Bailiffs held on to the black-and-gold cars as well as team equipment at the Spa-Francorchamps circuit in Belgium after the latest grand prix. With debts "piling up," Lotus is "clinging on for Renault to buy the team." Speculation is growing that a deal "could be completed by the end of this week." A Lotus spokesperson said, "Everything is under control." The spokesperson added that support staff is on its way to Monza to "prepare for the race after Romain Grosjean's third place." However, Lotus will be there "only because Ecclestone acted swiftly when it seemed that the money had run out." He confirmed that he paid the team, based at Enstone in Oxfordshire, an advance to "make sure that staff received their July pay packets." Ecclestone: "I thought I should cover the wages of the people there to make sure they were all right and so that Lotus would at least get to Spa and, hopefully, to Italy." Renault is thought to be prepared to offer about £60M ($91.8M) for a 65% stake in Lotus. A deal would "appear to be the only way out for Lotus, with creditors queueing up and the Pic affair not settled." The team is thought to have total debts close to £128M ($196M) (LONDON TIMES, 9/1).
