Lotus F1 not on the market says CEO

As it continues its struggle to keep its head above the water, like most of F1's mid-field teams, Lotus has denied speculation its owners may be seeking to sell the team to former owners Renault.

Speaking at a business conference in London, Lotus CEO Matthew Carter was adamant no sale was in the cards by majority holder Genii Capital in spite of Renault publicly pondering the idea of taking over an F1 outfit.

"My shareholders have said quite specifically the team isn't for sale," Carter commented. "There's a famous quote that everything's for sale at a price but certainly our shareholders have told me they don't want to sell the team, they don't want to give up their majority interest in the team."

While Lotus' financial woes are well documented, Genii Capital's Gérard Lopez considers the switch to Mercedes power this year as a boost to its competitive potential. Shareholders are also hoping a fundamental change to Formula 1's payout structure would strongly benefit the sport's second tier teams, or perhaps avoid their demise altogether.

Last year, Gérard Lopez was at the forefront of a battle to defend the interests of Formula 1's impoverished teams, imploring change and a greater share of F1’s £500 million of prize money.

The Enstone-based squad endured a miserable 2014 season, its drivers raking in only 10 points which obviously resulted in a very reduced financial windfall from FOM, which in turn has strained the outfit's budget. Lotus is currently sixth in the Constructors championship with Romain Grosjean scoring all the team's points in the last three races.

Click here for Wednesday's gallery from testing at the Circuit de Catalunya

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