Lotus F1 Team chairman and principal Gerard Lopez has stated that the takeover of the team by Renault is now a "done deal" leading to speculation that it will be formally announced as soon as next weekend at the Abu Dhabi Grand Prix, the final round of the 2015 Formula One world championship.
"I think we are pretty much there with Renault," Lopez told Sky Sports F1 on Saturday while attending the Race of Champions at the Queen Elizabeth Olympic Park in Wembley, north London.
"I understand that Renault still have some things they need to clear with Formula 1 and FOM, but as far as we are concerned we are pretty much at a deal now."
Lopez confirmed that he himself would be staying with the team in some role and will retain a small holding in the organisation, with Renault expected to purchase only around two-thirds ownership.
"I will still be a co-owner, but not to the same extent that I am now," Lopez told reporters. "It won't be me finished because they have asked me to stay on, so when the deal happens, I will stay on."
Lopez added that he had no regrets about his time in charge of Lotus. "I'll look back on it as an amazing adventure," he said.
"You take over a team, they are eighth in the championship, you end up winning races, we had 23 podiums, so a very exciting time for a private team. So I am quite proud of what the team has achieved."
Renault F1's Cyril Abiteboul is among those tipped to be the man who could take over as team principal, and he indicated this week that the Lotus name will be dropped with immediate effect as there is no cause to delay re-introducing the Renault brand to the squad.
"There is no reason to wait. We know in terms of operation and performance that 2016, if we go for it, it will be a transition year," he said.
However there is some doubt about whether the new name will actually turn out to be Renault, with suggestions that the company might instead prefer to use its Nissan joint venture brand for its return to Formula One as a works team.
"We have a strategy in terms of naming, and we know why we would be entering F1 and to promote which brand," Abiteboul told Motorsport.com.
"Renault is a halo brand but there are other brands associated to that, but I will not say anything in relation to that because that will be part of [any official] announcement."
Another option for the new team's name is Infiniti, although the luxury Nissan brand is understood to be committed to Red Bull Racing for another season.
Red Bull has confirmed that it will be participating in the 2016 season despite not having yet clinched an engine deal, with speculation that it has been forced to patch things up with Renault under a new arrangement after an acrimonious split between the companies mid-season.
Mercedes, Ferrari and Honda have all said that they are not in a position to supply Red Bull with engines next year, with sister team Toro Rosso also desperate to secure an engine deal.
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