Lotus boss: finances are better

According to CEO Matthew Carter the team has bounced back from the major losses and staff cutbacks of previous seasons and they are now in good financial health.

Carter said: "Without going in to too many details, in trying to sort out the finances – which we did – we laid off a number of people this time last year.

"We possibly laid off a few too many so, during the course of the year, we got people back to the design office and aero office.

"We've also restructured the aero department and we are now seeing the fruits of that effort come off."

He added: "Our budget for this year, although reduced compared to 2013, is similar to last season. We have a couple of new sponsors that, although not featured on the car today, will be there for the first race.

"A lot of the back office work at the business is producing results, so financially we are looking good.

"And it is important to say that if we do get more money, then that will go straight on to improving car performance. In previous years such additions may have gone in to the black hole of debt, but now it can go straight on to the car."