Categories: F1 News, Reports and Race ResultsLotus F1

Lotus set for crucial Renault talks in Hungary

Lotus co-owner Gérard Lopez will be attending the upcoming Hungarian Grand Prix where talks with Renault CEO Carlos Ghosn regarding a sale of the Enstone team to the French manufacturer are expected to take place.

Discussions between the two parties have been ongoing but it is suggested that the scheduled meeting would be a culmination to a potential transaction which would see Renault buy back its former team from Genii capital.

The situation has apparently taken on a sense of urgency given the financial strains currently imposed on Lotus by one of its creditors. According to Finnish newspaper Turun Sanomat, time is running out for the British outfit and a deal must be concluded in the coming weeks in order to address its debt burden.

"Our information is that Lopez and Carlos Ghosn will meet at the Hungarian GP to make the deal, " commented one of the paper's correspondents. "Lotus' financial situation is difficult, under pressure in the courts from creditor Xtrac. If a deal is made, the debts will move to Renault."

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.