Renault is currently finalising arrangements to effectively buy out the Lotus F1 Team, F1i understands after cross-checking several sources in the Spa-Francorchamps paddock.
Enstone co-owner Gérard Lopez and Renault CEO Carlos Ghosn have reportedly met this week and an agreement in principle has now been reached. Although Lopez would keep a minor stake in the new structure, the shareholding process would not involve his Genii Capital Partners firm yet.
In order to seal its return as a works outfit, Renault would only be waiting for F1 supremo Bernie Ecclestone to make it an “historic team”, given the French manufacturer’s record in the sport. Such a move would indeed lead to Renault receiving a bigger slice of F1’s commercial revenues.
It is believed that Lotus F1 Team Ltd currently owes some £18 million (€25 million) to several creditors, suppliers, and contractors, while the debt to Genii Capital needs to be restructured in an effort to ensure a smooth transition.
Click here for Friday's gallery of the Belgian Grand Prix
Keep up to date with all the F1 news via Facebook and Twitter
For many, he was just a young hopeful awarded a lucky F1 break, but for…
Pierre Gasly left Zandvoort with more than just frustration over Alpine’s missed opportunity, taking aim…
Netflix is keeping the Formula 1 cameras rolling, with the streaming giant confirming that Drive…
Laurent Mekies has given Liam Lawson a ringing endorsement after the Kiwi made the most…
Fred Vasseur has heard the criticism. He has heard Lewis Hamilton’s frustration, Charles Leclerc’s confusion…
Toto Wolff has delivered a remarkably blunt explanation for Mercedes’ recent slide, admitting that the…