Lotus F1 Owners Plan to Invest in European Soccer, FT Reports

Genii Capital founders Gerard Lopez and Eric Lux, owners of the Lotus Formula One team, are creating a fund to invest as much as 500 million euros ($615 million) in European soccer, the Financial Times reported.

The investors are considering about five second-tier teams and about 12 businesses related to the sport, the newspaper said, citing Lopez. The fund will be managed by Mangrove Capital Partners, the FT said.

Lopez declined to comment on which teams Mangrove will target or the precise size of the fund, the FT said.