Renault Signs Letter of Intent With Lotus

[Jordan Wilkins]

Renault have completed the first step of their planned takeover of the Lotus F1 team today, as they signed a formal letter of intent with the team.

Talks have been ongoing for several months concerning the potential takeover of the cash strapped team by Renault, and this latest move will likely help the Lotus team with it's impending final appearance in the high court regarding it's insolvency case with HMRC.

This latest news comes off the back of another difficult weekend for the Lotus team at last weekend's Japanese Grand Prix. The team's air freight was late arriving at the Suzuka circuit thanks to late payments, with an outstanding hospitality bill of £27000 pounds leaving the team locked out of it's own hospitality unit all weekend.

Renault released a statement this Monday morning announcing the news. They said "Renault group and Gravity motorsport 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 LTD."

They continued with "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 the world's premier motorsport championship series."

This is a big first step for both Renault and the Lotus F1 team, as it appears increasingly likely that Lotus will be re-branded as the Renault F1 team from next year onwards. The next step will be formally completing the take over of the team, along with finding a driver to partner Pastor Maldonado. It appears lead driver Romain Grosjean is to leave the team to join the new Haas F1 team for next year.

 

[vee10]

Hopefully they will invest enough to be competitive again. I've heard Nelson Piquet Jr is free.

 

[Torcano]

@Lazarou By that if you mean they could make Maldonado crash into everyone other than his team mate and allow the other guy get a few points that way. They just have to invest enough in repair bills then.

 

[Bram Hengeveld]

I am so going to laugh when Renault F1 turns out to become super competitive next year. Let's hope all the bad critics they've received this season pushes the team to great heights.

Who is going to be Pastor's co-driver? Verstappen, when Red Bull pulls out of the sport?

 

[vee10]

As a Renault fan, Verstappen would be fantastic what a coup that would be. I would laugh my head off if Red Bull pull out of F1 and the Renault engine next year is a lot closer to the Mercedes. The look on Horner's face would be priceless.

Looks like they are going for a top drawer team boss as well. This guy knows his onions.

 

[Blotto]

my vote for driver is Jacques Villeneuve. He drive and sing = double threat!

 

[Birddogg66]

They could sign me! I am sure I could crash the car as much as Maldonado.

 

[InsaneOzzie]

I wonder how many Lotus crew will get the chop, hopefully Renault will keep most, if not all of them, on the payroll.

I think Renault will storm into the F1 circus and surprise many with very competitive engines. Renault have been around far too long to not know how to extract every solitary Bhp from their engines.

If RedBull do pull out, I hope they don't, it would also leave Ricciardo looking for a seat, he would be my 1st pick if I was a new team looking for a top driver.

RedBull must be spitting chips, to know that no engine manufacturer wants to give them a competitive powerplant, is that because they, Renault, Mercedes & Ferrari know RBR have a better chassis, and will kick their butts.

Cheers

 

[Kurei]

On the Renault-engine matter...

Anyone remember how when Honda first started out in Indycar in the mid-90's, they also had multiple failures and were more-or-less 'the laughing stock' ?, only to eventually become a dominant force in Indycar not super long after ?, even going on to be the sole engine-supplier eventually.

Maybe, just maybe we'll see a similar resurgence from Renault with their engines ?, We are only a season (and a half?) into this new Turbo-era after all. The future can go anywhere really.

Or maybe I'm just optimistic, and want to keep seeing Ricciardo smile.

 

[ThatRacingGuy]

Back to 2011 Again

 

[ThatRacingGuy]

On the Renault-engine matter...

Anyone remember how when Honda first started out in Indycar in the mid-90's, they also had multiple failures and were more-or-less 'the laughing stock' ?, only to eventually become a dominant force in Indycar not super long after ?, even going on to be the sole engine-supplier eventually.

Maybe, just maybe we'll see a similar resurgence from Renault with their engines ?, We are only a season (and a half?) into this new Turbo-era after all. The future can go anywhere really.

Or maybe I'm just optimistic, and want to keep seeing Ricciardo smile.

More Smiling
Less Whining

(And yes i wan't to See Daniels smile again to Lol)

 

[Milos]

RedBull must be spitting chips, to know that no engine manufacturer wants to give them a competitive powerplant, is that because they, Renault, Mercedes & Ferrari know RBR have a better chassis, and will kick their butts.

they should've just done the deal with Renault until the actual contract expiring date. I knew neither Merc or Ferrari would want to give them their amazing engines, with RB being Merc's biggest threat in 2014 (with a car equally as good or better than the Merc), and Ferrari for all the years they dominated on them (again, with a better car).

Due to the limited engine development however, I don't believe Renault can bounce back.

 

[Nox]

I like the not-so-subtle mention of 38 years as they want Bernie to give them historic status.

Theory: Next year Renault runs the team with a Mercedes engine, and leaves the sport as an engine manufacturer altogether. This means they can work without any token system, cost cap, or whatever, to build a new engine for 2017. Surely it'd be a good engine then, boosted by the fact they'll have had their hands on the merc engine for a year too. Then they re-enter as an engine manufacturer in 2017 and voilà, Renault are back near the front.

 

[Milos]

Theory: Next year Renault runs the team with a Mercedes engine, and leaves the sport as an engine manufacturer altogether. This means they can work without any token system, cost cap, or whatever, to build a new engine for 2017. Surely it'd be a good engine then, boosted by the fact they'll have had their hands on the merc engine for a year too. Then they re-enter as an engine manufacturer in 2017 and voilà, Renault are back near the front.

maybe Honda should also try that

 

[Philip Heck]

I like the not-so-subtle mention of 38 years as they want Bernie to give them historic status.

Theory: Next year Renault runs the team with a Mercedes engine, and leaves the sport as an engine manufacturer altogether. This means they can work without any token system, cost cap, or whatever, to build a new engine for 2017. Surely it'd be a good engine then, boosted by the fact they'll have had their hands on the merc engine for a year too. Then they re-enter as an engine manufacturer in 2017 and voilà, Renault are back near the front.

Ghosn already stated that they will use Renault engines no matter what.

 

[Andy 'Mars Bar' Graham]

Why not sign Vandoorne. I mean they need at least one world class driver

Vandoorne would be a fantastic signing. His GP2 form has been world class and has been fantastic all season, it's a no brainer