French carmaker Renault bought back its former works team Lotus for a single British pound. That is the finding of F1 business journalist Christian Sylt, who wrote in the Telegraph that company documents show only 1 pound actually changed hands as Renault bought a 90 per cent stake in the Enstone based team.
In the fallout of the so-called 'crash-gate' scandal at the end of last decade, Renault had sold its formerly championship-winning works team to the private equity firm Genii.
Sylt, writing with Caroline Reid, added that Genii recorded a $274 million loss between buying the team and selling it back to Renault just before Christmas. Genii has, however, now retained a 10 per cent stake, with the firm's Eric Lux also revealing that the team is "in discussion with several parties for a long-term title sponsorship".
Lotus sold for 1 pound to Renault
- Published on 28 Dec 2015 12:05
-
3
- By: Danny Sosef
Trending news
-
Nike reportedly working on F1 return after two decadesNike is exploring a return to Formula 1 after more than two decades away from the paddock, with early-stage talks cen...
01 Sep 2026 16:25 -
How Liam Lawson's Zandvoort drive may have rescued his F1 futureLiam Lawson may have salvaged his Formula 1 career with a composed performance at the Dutch Grand Prix, according to ...
01 Sep 2026 15:23 -
Sainz baffled by Verstappen's thoughts on early F1 retirementCarlos Sainz has expressed genuine confusion at Max Verstappen's repeated consideration of early retirement from ...
01 Sep 2026 14:21 -
Why Lando Norris' New McLaren Role Could Pressure PiastriLando Norris has signalled his intention to become McLaren's undisputed leader, citing growing influence over tea...
01 Sep 2026 13:20 -
Betting on the F1 season: reading the odds and building a race-day strategyFollowing an entire Formula 1 season means constantly reassessing the competitive order. A car that excels through Mo...
01 Sep 2026 14:23
Dutch Grand Prix
Local time
-
Friday
Saturday
Sunday
Dutch Grand Prix
Local time
-
Friday
-
Saturday
-
Sunday
-
Friday
-
Saturday
-
Sunday
Test calendar
Circuit de Catalunya - Winter testing
-
Jan 26
I. Hadjar
- 1:18.159
-
-
-
Jan 27
M. Verstappen
- 1:19.578
-
-
-
Jan 28
A. Antonelli
- 1:17.362
-
-
-
Jan 29
G. Russell
- 1:16.445
-
-
-
Jan 30
L. Hamilton
- 1:16.348
-
-
Bahrain International Circuit - Winter testing
-
Feb 11
L. Norris
- 1:34.669
-
-
-
Feb 12
C. Leclerc
- 1:34.273
-
-
-
Feb 13
A. Antonelli
- 1:33.669
-
-
Bahrain International Circuit - Winter testing
-
Feb 18
G. Russell
- 1:33.459
-
-
Feb 19
A. Antonelli
- 1:32.803
-
-
Feb 20
C. Leclerc
- 1:31.992
-
-
World Championship standings 2026
Related news
Give your opinion!
Formula 1 Calendar - 2026
Spain
Bahrain
Bahrain
Formula 1 Calendar - 2026
Spain
Circuit de Catalunya
Bahrain
Bahrain International Circuit
Bahrain
Bahrain International Circuit
Australia
Albert Park
Japan
Circuit Suzuka
Bahrain
Bahrain International Circuit
Saudi Arabia
Jeddah Street Circuit
United States of America
Miami International Autodrome
Canada
Gilles Villeneuve
Monaco
Monte Carlo
Spain
Circuit de Catalunya
Austria
Red Bull Ring
United Kingdom
Silverstone
Belgium
Spa-Francorchamps
Hungary
Hungaroring
Netherlands
Circuit Zandvoort
Italy
Monza
Team profile
- Team name Renault
- Base Enstone, France
- Fernando Alonso 1
- Daniel Ricciardo 3
- Fernando Alonso 5
- Fernando Alonso 5
- Fernando Alonso 7
- Romain Grosjean 8
- Fernando Alonso 8
- Fernando Alonso 8
- Pastor Maldonado 13
- Jenson Button 15
- Kevin Magnussen 20
- Nico Hülkenberg 27
- Jolyon Palmer 30
- Esteban Ocon 31
- Carlos Sainz jr 55
- 236,941 comments on Renault
26 members have this team as their favourite
Tweets about Renault
Replies (3)
Login to replyPosts: 8,527
It wasnt unexpected, it is quite common for companies to be sold for just 1 pound when they are taken over, it is more of a symbolic sum. MFI was taken over in a similar way a few years ago. To think that they handled it so badly that they actually lost that much cash is a bit odd though. Will be interesting to see if they'll manage to claim a title sponsor before the start of the 2016 season.
Posts: 893
That will be 1 pound + all debts and unpaid bills ;)
Posts: 8,527
Very much so.