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
Honda is shaking up the leadership of its Formula 1 power unit programme as the…
On this day in 2008, Formula 1 saw a spring chicken named Sebastian Vettel become…
Charles Leclerc left the Madring with no regrets about Ferrari's strategic gamble in the Spanish…
Lando Norris lost out on a victory at the Madring thanks to a perfectly miserable…
For Carlos Sainz, the Madring's first Formula 1 weekend was supposed to be a homecoming…
Cadillac Sergio Perez, DNF “Our race was going really strong up until the moment we…