Wednesday, December 8, 2010
Black & Gold is back
The Renault car company has sold its remaining shares in the eponymous Formula 1 team, which will be renamed Lotus Renault in 2011.
Renault was left with a 25% shareholding in the team in 2010 after selling the remainder to private investment group Genii Capital.
Those shares have been sold to Genii and will be then taken by Lotus Cars, which is owned by Proton.
The move means there will be two F1 teams in 2011 with Lotus in their name.
The team that competed as Lotus Racing in 2010 will be renamed Team Lotus after buying the historic rights to the name under which Lotus raced from the 1960s until ... Read more>>