Renault Group to buy Lotus F1 Team

AutoInformed.comRenault Group and Gravity Motorsports announced today that a Letter of Intent has been signed for the acquisition by Renault of a controlling stake in Lotus F1 Team. In a statement Renault said, “The signature of this Letter of Intent marks Renault’s first step towards a Renault Formula 1 team from the 2016 racing season.” Yes, the French are buying a storied British team, may Colin Chapman rest in peace.

Renault Group and Gravity will work together on this initial undertaking into a definitive transaction provided all terms and conditions are met “between them and other interested parties.”

About Ken Zino

Ken Zino is an auto industry veteran with global experience in print, broadcast and electronic media. He has auto testing, marketing, public relations and communications expertise garnered while working in Asia, Europe and the U.S.
This entry was posted in racing and tagged , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *