F1 management is 'blockage' for sponsors - Lopez

Feb.16 (GMM) Gerard Lopez has hit out at F1's "archaic management".

Refuting rumours he is looking for new investors to replace the Lotus boss, F1 supremo Bernie Ecclestone earlier this month insisted the Luxembourger is "a friend".

But Lopez, who at the end of last season was leading the charge as angry midfield teams demanded more income, remains highly critical.

"TV ratings are declining steeply whereas the show on track is exceptional," he told the French magazine Auto Hebdo.

Lopez said F1 must reach out to younger fans via the internet and social media, and also hit out at the sport's lack of a "genuine marketing department".

An entrepreneur and businessman, 43-year-old Lopez heads Genii Capital, an investment firm, and he reports that his investment peers regard F1 as "the only activity offering a global platform likely to attract world companies".

"And yet, there seems to be some sort of blockage," he said.

"Why do these potential sponsors never make the leap when they are not really undaunted by the amounts requested in F1? What's holding them back?

"Is it because of the sport's archaic management and organisation?"