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Renault has issued out this statement: "Renault Group and Gravity Motorsports S.a.r.l., an affiliate of Genii Capital SA, are pleased to announce the signature of a Letter of Intent regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd."
"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."
"Renault Group and Gravity will work together in the coming weeks to eventually turn this initial undertaking into a definitive transaction provided all terms and conditions are met between them and other interested parties."
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Replies (2)
Login to replycalle.itw
Posts: 8,527
Finally, they took their time. Really was in the last minute. I wonder if they'll compete as Renault next year, and if they'll break their engine supply contract with Mercedes, or if they'll run as Lotus Mercedes for another year to collect this year's prize money and to avoid having to pay off their current engine supply contract.
khasmir
Posts: 893
Not yet finally, it is only a letter of intent, that is not a guarantee for a done deal. And apparently that letter was already signed some time ago.
Can't imagine Renault driving with Merc engines next year. I'm pretty sure they have settled this already since Merc has apparently confirmed to supply engines to Manor and they will only supply 4 teams.