An announcement by the French car manufacture Renault that his has brought Lotus is due today. Talks of the takeover were high on the agenda over the weekend with management of the team being tight lipped on the reports.
A statement by Renault says that they said they have signed a letter of intent with the owners of the Lotus team “regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd.”
The French manufacturer was debating three options about their future which todays announcement means they have decided to return as a works team to Formula One. The other options were to withdraw from the sport or remain how they are.
The talks have been going on for months. The team and Renault said “the signature of this Letter of Intent marks Renault’s first step towards the project of a Renault Formula 1 team from the 2016 racing season thereby extending 38 years of commitment of the brand to world’s premier motorsport championship series.”
The team withdrew from the sport after there involvement in 2008 Singapore Grand Prix when they fixed the race ordering Nelson Piquet Jr to crash deliberately to give Fernando Alonso the win.
Renault return to the sport will mean three manufacturers will be competing as works teams. Volkswagen could also join the sport but there facing a growing scandal over the fixing of emission tests.
Related
- Renault to stop supplying teams with engines
- EDITOR’S BLOG – Engines, Red Bull, Renault and the domino affect
