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Renault signs letter of intent for Lotus buyout
Renault has moved a step closer its takeover of Lotus and the return of a works Formula 1 team, after revealing that it has signed a letter of intent regarding a purchase of the outfit. Following weeks of uncertainty about the deal, and with a looming High Court appearance for Lotus on Monday brought by HMRC, the news is a huge boost to the Enstone outfit. It should allow the team and engine manufacturer the time frame it needs to put the finances of the deal in place, and herald the potential return of a works Renault outfit to F1. The statement said: "Renault Group and Gravity Motorsports S.a.r.l., an affiliate of Genii Capital SA, are pleased to announce the signature of a Letter of...
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9y ago from Motorsport.com
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