Discussion
http://www.autosport.com/news/report.php/id/103257
Sad news, but probably inevitable, in these "green" times we live in, it just isn't fashionable for millionaire playboys to sink their money into racing any more, and the people who would have been able to do good running Lola probably don't have the cash to pay for it.
Sad news, but probably inevitable, in these "green" times we live in, it just isn't fashionable for millionaire playboys to sink their money into racing any more, and the people who would have been able to do good running Lola probably don't have the cash to pay for it.
DanB7290 said:
http://www.autosport.com/news/report.php/id/103257
Sad news, but probably inevitable, in these "green" times we live in, it just isn't fashionable for millionaire playboys to sink their money into racing any more, and the people who would have been able to do good running Lola probably don't have the cash to pay for it.
Probably not green reasons - have you seen their garages?. Football clubs are the casual billionaires trainset of choice, and racing teams dont make sufficient return to attract any other. Sad news, but probably inevitable, in these "green" times we live in, it just isn't fashionable for millionaire playboys to sink their money into racing any more, and the people who would have been able to do good running Lola probably don't have the cash to pay for it.
With regards to the HMRC comments, I am sad to see that Lola have gone. But I suspect Portsmouth FC did not get this sympathy, but because its not something we care about.
Graham said:
Fantuzzi said:
How so? Havnt kept up with the Lola problems.
changed the rules on R&D tax rightoffs and presented lola with a big bill that wasnt planned for... then demanded money they didnt have.Lola stood no chance, to take on HMRC would have taken years and cost money they did not have.
so, the tax man has basically thrown some more highly skilled people on the dole, lost the export market cash, VAT, etc.
well done.
Bitofbully said:
Aren't the FIA mostly responsible for this as they have moved lots of racing formulae to single maker specification chassis, meaning there's no room for many of the old customer chassis manufacturers?
FIA did not land them with a MASSIVE tax demand (as in several hundred thousand)DanB7290 said:
http://www.autosport.com/news/report.php/id/103257
Sad news, but probably inevitable, in these "green" times we live in, it just isn't fashionable for millionaire playboys to sink their money into racing any more, and the people who would have been able to do good running Lola probably don't have the cash to pay for it.
not true at all look at BlancpainSad news, but probably inevitable, in these "green" times we live in, it just isn't fashionable for millionaire playboys to sink their money into racing any more, and the people who would have been able to do good running Lola probably don't have the cash to pay for it.
They've been teetering on the brink for ages haven't they?
You can blame HMRC but I blame the proliferation of one make series, and the fact that Lola didn't win enough business from them. A few years ago Lolas were competing in F3000, Champ Car, IndyCar and more. Now all these series have a single make chassis, and unfortunately there isn't much competition between manufaturers on the track.
You can blame HMRC but I blame the proliferation of one make series, and the fact that Lola didn't win enough business from them. A few years ago Lolas were competing in F3000, Champ Car, IndyCar and more. Now all these series have a single make chassis, and unfortunately there isn't much competition between manufaturers on the track.
AJS- said:
They've been teetering on the brink for ages haven't they?
You can blame HMRC but I blame the proliferation of one make series, and the fact that Lola didn't win enough business from them. A few years ago Lolas were competing in F3000, Champ Car, IndyCar and more. Now all these series have a single make chassis, and unfortunately there isn't much competition between manufaturers on the track.
Yeah, Martin Birrane put in £4m of his own money in the last 7 months of the business to try and keep it going but it just wasn't to be. You can blame HMRC but I blame the proliferation of one make series, and the fact that Lola didn't win enough business from them. A few years ago Lolas were competing in F3000, Champ Car, IndyCar and more. Now all these series have a single make chassis, and unfortunately there isn't much competition between manufaturers on the track.
The following information is lifted from an interview with Martin Birrane in this months Racecar Engineering.
Birrane blamed the economic downturn and the HMRCs decision not to pay ongoing tax credits for ongoing research and development projects.
In 2011 they became involved with the Drayson electric LMP car which the Lola board decided to become involved in at a modest level which later led to costs of £670,000 of which Drayson paid nothing (not clear if they were meant to or not). The work with the Drayson project diverted resources of some engineers. The 2012 Le Mans car build ran late which led to component work being outsourced. Birrane also mentions that they make their money on spare parts for the cars rather than the actual cars so outsourcing components means less revenue for Lola.
In the composite side of things there were delays in customers placing orders in areas where they(lola) had already allocated resources.
In 2011 HMRC decided to not pay outstanding R&D claims and asked for a rebate to the tune of £1.4m.
Obviously the move of most series that used to allow competition between chassis manufactures to spec chassis really damaged Lola because at one point they were developing and supplying F3, Le Mans, A1 GP as well as developing the World Junior car for sale to race schools as well as their previous work in CART. Now they are left with the various Le Mans championships as the only realistic series to develop cars for and produce spare parts. You can argue they could easily enter GT/Touring Cars with their knowledge but they would need a manufacturer willing to pay for them to develop a car. Its a sad sight to see a constructor with such a great history leave the sport but hopefully someone will purchase the company (Cars & Composite).
Sad indeed. I think it's a shame that none of the feeder series allow chassis competition now (does F3 still? It was essentially a Dallara monopoly last I heard anyway) but i suppose F1 has moved on a bit since the days when teams got good at building and preparing cars in the junior formulae before moving up to F1. Stewart Racing was probably the last of the breed and they didn't really do much. F1 is such a massive multi billion pound industry that the starting point of anyone looking to enter would be to find a large corporation with a billion $ advertising budget before you even lift a spanner.
I'm surprised Lola never got serious about making a road/track day car, but the costs of getting started in that are pretty steep as well.
I'm surprised Lola never got serious about making a road/track day car, but the costs of getting started in that are pretty steep as well.
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