Lotus admits they owe Raikkonen money

Lotus admits they owe Raikkonen money

Lotus admitted they owed money to driver Kimi Raikkonen, after the former world champion said he quit the team for Ferrari because he had not been paid.

Team principal Eric Boullier said it was true that Lotus were behind in their payments to Raikkonen, blaming "cash flow" - but he insisted they would settle up.

"I don't think it is damaging the brand of the team to be honest.

"The truth is that yes, we owe him money, that's true. He's going to be paid, that's true too," he said, ahead of the qualifying session for the SingTel Singapore Grand Prix last Saturday.

Boullier said Lotus had a similar problem last year with Raikkonen, who is reported to be owed multi-million dollar performance bonuses.

"If you want to have a little bit more of the story, last year in the same period it was the same story - we owed him some money but at the end of the year we paid it," Boullier said.

"It's just the way we manage our cash-flow, unfortunately we are not as rich as some other teams on the grid."

Raikkonen has enjoyed a fairly successful return to Formula 1 at Lotus since ending a two-year sabbatical after leaving Ferrari in 2009, winning twice and scoring points in a record 27 consecutive races.

However, the lure of a return to the Italian giants was strong enough for the Finn to end his two-season spell with Lotus, although he did hint that he may have extended his stay had the team been able to meet his demands.

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