(Eric Vargiolu/ DPPI for Renault Sport F1)
Lotus F1 Team owner Gerard Lopez has stated that reports his team are struggling financially were exaggerated.
The Luxembourgian, who attended his first race of the season in China confirmed that the Enstone outfit are in a better position now following a recent management reshuffle which has seen Technical Director Nick Chester and Head of Trackside Operations Alan Permane assume the responsibilities that were held by former team boss Eric Boullier.
Lopez revealed that the investment that was due from the Quantum Motorsports Group did arrive to the team however it was sent back due to 'issues relating to those people'. As a result it meant that there was a delay in certain payments.
Lopez also confirmed that Eric Boullier's departure from the team was unfortunate as he was the communication into the team for Lopez but he now feels that the new structure in place at the team is better now because there is now direct communication between the two rather than using Boullier.
The team were forced to make 95 staff redundant as part of the restructuring process although many of these staff members were put in place with the specific task of working on the 2014 car.
Lotus have yet to secure a point so far this season, however they have received an engine upgrade from Renault which they hope will enable them to start scoring point's.
The team will bring a major upgrade package for the E22 to the next race in Barcelona which they hope will bring them closer to the likes of Force India and McLaren.
©Ben Johnston 2014