user icon

Official: Renault finalizes Lotus F1 buyout

  • Published on 04 Dec 2015 08:06
  • comments 2
  • By: Rob Veenstra

Following the September announcement of the signing of a Letter of Intent with Lotus F1 Team, teams at Renault continued to evaluate the possibility of a return to Formula 1. Particular attention was paid to competing successfully with its own team in a financially sound way starting in 2016.

"Renault had two options: to come back at 100 percent or leave. After a detailed study, I have decided that Renault will be in Formula 1, starting 2016. The final details supplied by F1's main stakeholders gave us the confidence to accept this new challenge. Our ambition is to win--even if it will take some time", said Carlos Ghosn, Chairman and CEO, Renault.

As a full team, Renault will take maximum benefit from its victories. The payback as an engine supplier proved to be limited. The return on the investment necessitated by the new engine regulations and the return in terms of image were low.

Work continues on finalizing the terms of the acquisition of Lotus F1 Team in the shortest timeframe possible. The principal contracts were signed on December 3, 2015. Lotus F1 Team effectively stands out as the best partner. Renault and Lotus F1 Team have known each other for 15 years and were world champions together in 2005 and 2006.

Replies (2)

Login to reply
  • Its about time. Nice news for a change though, although I'll miss Lotus and their pretty livery. Although they'll likely be named Lotus Renault or something next year before Renault names it Renault fully, I cant imagine they'd want to lose out on the prize money Lotus will get for this season.

    • + 0
    • Dec 4 2015 - 16:14
  • khasmir

    Posts: 893

    Finally, now the final pieces of the puzzle can fall into place.

    • + 0
    • Dec 5 2015 - 12:23

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2021

Show full world champion standings

Test calendar

Bahrain International Circuit - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Team profile

Show full profile

Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
-
Bahrain
26 - Mar 28
Bahrain
16 - Apr 18
Italy
7 - May 9
Spain
21 - May 23
Monaco
4 - Jun 6
Azerbaijan
25 - Jun 27
France
2 - Jul 4
Austria
16 - Jul 18
United Kingdom
30 - Aug 1
Hungary
27 - Aug 29
Belgium
3 - Sep 5
Netherlands
10 - Sep 12
Italy
24 - Sep 26
Russian
1 - Oct 3
Singapore
8 - Oct 10
Japan
22 - Oct 24
United States of America
29 - Oct 31
Mexico
5 - Nov 7
Brazil
19 - Nov 21
Australia
3 - Dec 5
Saudi Arabia
10 - Dec 12
United Arab Emirates
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28
16 - Apr 18
7 - May 9
21 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
25 - Jun 27
France Paul Ricard
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
Italy Monza
24 - Sep 26
Russian Sochi Autodrom
1 - Oct 3
8 - Oct 10
22 - Oct 24
United States of America Circuit of the Americas
29 - Oct 31
5 - Nov 7
Brazil Interlagos
19 - Nov 21
Australia Albert Park
3 - Dec 5
Saudi Arabia Jeddah Street Circuit
10 - Dec 12
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar