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eBay Find of the Day: 2000 Lotus 340R, claimed only street-legal example in US

These days most of the news out of Lotus comes when it releases a lighter or faster version of the Elise, Exige or Evora. However, the stripped-out, Elise-based 340R might already show the logical conclusion of that concept, despite coming out in 2000. Now, one of the 340 made is up for auction on eBay Motors, and the seller in Fort Lauderdale, FL, claims that it's the only street-legal example available in the US.
Lotus founder Colin Chapman always had an obsession with making his vehicles as light as possible, and the 340R adhered to that adage about as closely as a street car could in 2000. These minimalist roadsters eschewed opening doors, windows and a roof in the pursuit of cutting the fat off the brand's hardly portly Elise. The company's engineers also trimmed away the fenders to give their creation a semi-open wheel design that looked as wild when new as today. For the interior, they installed two racing buckets, and the most of the rest was left in bare metal, including the pedals. All of the changes reportedly brought the 340R down to around 1,545 pounds.
Power comes from a 1.8-liter four-cylinder with a five-speed manual gearbox. The 340R is available with 177 horsepower or a tuned 187-hp version from that mill, but the seller doesn't specify which one this is. It's still a pretty fresh car, though, with just 3,577 miles claimed on the odometer.

Lotus F1 apologizes for tweeting support for LGBT Olympians

The Lotus Formula One Team is apologizing after its official Twitter account posted this image of two men kissing in connection to the opening of the Winter Olympics on Friday, February 7. It claims that the original tweet was "unauthorized."
The tweet, which Lotus deleted later that day, can be viewed to the right and was promptly replaced an apology that said, "We would like to sincerely apologise for an unauthorized message posted on our Twitter account today & will ensure this cannot happen again." Responses to the kerfuffle on its Twitter page have mostly focused on confusion as to what the original tweet was and why it was removed.
While the Sochi Olympics have been controversial among LBGT groups because of Russia's laws banning so-called "gay propaganda," the country has a growing importance in F1. In fact, the first Russian Grand Prix is scheduled to run later this season on a circuit around the Sochi Olympic Park. Genii Capital, the team's owner, has business interests in Russia, and according to the BBC, the Lotus F1 team is working on a deal to with Russian mobile phone company Yotaphone to sell it 10 percent of the team.

European commission investigating F1 finances and anti-competitive accusations

The Kingdom of Formula One reminds us of renaissance Florence - ruled by a singular chieftan behind a mask of representative involvement, rife with spectacularly convoluted machinations, awash in innovations that help define our world and far-flung, vindictive misery. If we found out Bernie Ecclestone's real last name was de Medici, well, it would explain a lot. Now after a bit of back-and-forth, the European Commission (EC) has taken aim at the kingdom, investigating whether F1 is anti-competitive and if the FIA has abused its antitrust agreement. The reason for EC scrutiny is that a British member of the European Parliament who represents an area in southwest England, Anneliese Dodds, has fielded complaints from engineering companies in her constituency that recent moves in F1 have put them out of business. She wrote to the EC to question why the FIA now has a stake in F1 when it signed an agreement in 2001 to be solely a governing body and abdicate any stakeholding in the sport. She also questioned the F1 Strategy Group, a group of the six top teams in F1 that makes decisions about the direction of the sport; she says that the Strategy Group not only appears to be a case of the F1 shirking its rule-making duty, it has resulted in unfair treatment of the small teams that aren't in the group. Dodds has a bit of a point. In 2001, the FIA sold F1's commercial rights to Ecclestone for 100 years for a sum of $313.7 million. That was done to placate European regulators who insisted that "the role of FIA will be limited to that of a sports regulator, with no commercial conflicts of interest." Although the rights are ultimately owned by the FIA and bring in a $10M fee every year from Formula One, those rights bring in $1.6 billion each year to Formula One Management (FOM), the company that owns F1. When Ecclestone was trying to get the new Concorde Agreement signed in 2013 that governs the running of the sport, the FIA wouldn't sign, saying it wanted F1 to share a larger slice of its revenue – the FIA has been losing money for years, see. To the get the FIA to sign, Ecclestone sold it a one-percent stake in F1 for $460,000 and gave the FIA a $5M signing 'bonus;' whenever F1 has its IPO, that stake is estimated to be worth about $120 million - not a bad return. Yet, according to the aforementioned 2001 agreement, the FIA can't have that equity stake.