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Lotus, Caterham deny late payments

Saturday 10th May 2014

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Lotus, Caterham deny late payments

Lotus, Caterham deny late payments

Both Lotus and Caterham insist they are not the late payers that engine supplier Renault complained about in Spain.

On Friday, Renault Sport F1 head Jean-Michel Jalinier complained that late-paying teams were hurting Renault's chances of recovering from a disappointing start to the new V6 era.

"I must say we are not at an acceptable situation, because some of the teams are just late in payments, and at the time you need to spend resources to catch up you cannot afford to have those [late] payments," he stated.

Renault supply engines to Red Bull, Toro Rosso, Lotus and Caterham, however, the latter two insists they are not the ones behind in payments.

A Lotus spokesman told Autosport: "We have an agreement with Renault Sport F1 for the payment of our power unit for 2014. We are 100 per cent up to date with our agreement."

Meanwhile, Caterham's team principal Cyril Abiteboul said: "It's a confidential issue but I'm happy, since I'm on time, to say that we are settled with invoices with Renault Sport F1."

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