F1: Lotus insists F1 team on track

From GMM

Another new team has moved to reject speculation that a lack of funding could thwart its formula one foray.

Rumours questioning the health of the USF1 and Campos entrants have been widespread, but especially within Malaysia, the new Lotus team is also subject to those who wonder if it has the money to compete throughout 2010.

UK based Lotus, owned and financed by a consortium of Malaysian entrepreneurs, was hoping to secure the sponsorship of the oil company Petronas, who instead elected to back Mercedes GP.

Despite the links with the carmaker Proton and the Sepang circuit, the Malaysian government has clarified that it is not funding Lotus, and the sports car marque Lotus Cars has also distanced itself from the F1 team.

The 2010 livery is not likely to feature the sponsorship logos of third party backers, but the car is due to be debuted at Silverstone on Tuesday, before it joins the third group test at Jerez next week.

Responding to the negative speculation about Lotus, chief executive Riad Asmat said: "I think we're due a little bit more credit.

"So far, of the new teams, only Virgin and us have our cars ready and we will be on the grid in Bahrain," he told the New Straits Times.

The 2010 Lotus car will be launched publicly in London on Friday.