News Details
Renault paid just £1 to buy Lotus F1 team
Renault paid just £1 to take over the Lotus Formula 1 team when the deal was finalised just before Christmas, company accounts have revealed. Delivering an indication of just how keen the previous owners were to find new funding and an investor who could pay off past debts, only a token payment was necessary to finalise the deal. Accounts also confirm that Genii Capital and its affiliate Gravity Motorsports have retained 10% ownership of the restructured organisation, and waived £98.2m of shareholder loans to the team. The purchase was a complicated arrangement that involved Genii first purchasing 6,744,444 shares from Whiterock Alliance Ltd, to add to the 60,700,000 it already had....
Full Story »
Full Story »
9y ago from Motorsport.com
0
You May Also Be Interested In...
Renault completes purchase of the Lotus F1 Team
Groupe Renault and Gravity Motorsport S.a.rl, an affiliate of Genii...
9y ago from JWGrandPrix.com
Renault formally complete takeover of Lotus F1 Team
Renault have announced that their takeover of the Lotus F1 Team has been...
9y ago from FormulaSpy.com
Renault to announce team name, management in February
Renault has confirmed it has finally taken overall control of the Lotus...
9y ago from GrandPrixTimes.com
Renault confirm Lotus deal now complete
Groupe Renault has finally completed the acquisition of the controlling...
9y ago from TheCheckeredFlag....
Elsewhere On The Network
Popular On MGPToday.com
Francesco Bagnaia: “Ducati is with me 100% – We...
No description available...
1h ago from Motorsport.com
MotoGP British GP: Alex Marquez wins, ending Marc's...
No description available...
6h ago from Motorsport.com
British GP race preview: Marc versus Alex Marquez, in...
No description available...
2h ago from Motorsport.com
Alex Marquez prevails in Silverstone MotoGP Sprint race
Alex Marquez prevailed to take his second Sprint race victory at...
6h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Why the Indy 500 is “fascinating puzzle” according...
No description available...
3h ago from Motorsport.com
Ryan Hunter-Reay completes shakedown of backup Indy...
Saturday morning at Indianapolis Motor Speedway, Ryan Hunter-Reay was...
7h ago from MotorsportWeek.c...
According to Marcus Ericsson, patience is the name of...
No description available...
7h ago from Motorsport.com
Josef Newgarden leads Indy 500 final practice, RHR's...
No description available...
1d ago from Motorsport.com
Popular On TotalWRC.com
Co-driver dies after crash during Jim Clark rally in...
Roberts, 39, was pronounced dead at the scene near Duns in the Scottish...
2h ago from TheGuardian.com
WRC signs new deal to race in Portugal until at least...
No description available...
2d ago from Motorsport.com
Rally Portugal criticism causes WRC, FIA to address...
No description available...
5d ago from Motorsport.com
WRC Portugal: Sebastien Ogier claims record-extending...
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
“That’s our strength” - PSG superstar Vitinha...
PSG midfielder Vitinha has stated that Les Parisiens control matches in...
2h ago from SportsKeeda.com
Arsenal transfer news: Rodrygo 'worries' emerge as...
Arsenal are reportedly concerned that Real Madrid attacker Rodrygo might...
4h ago from SportsMole.co.uk
Southampton vs Arsenal Prediction and Betting Tips |...
The Premier League returns to the fold with another set of matches this...
3h ago from SportsKeeda.com
From France: Arsenal have definite interest in 'great...
Arsenal are interested in signing the Portuguese international attacker...
5h ago from CaughtOffside.com
Comments
Hottest News
Adjusted 2025 F1 Monaco Grand Prix starting grid after...
Check out the adjusted starting grid for the 2025... Read More »
3h ago from RacingNews365.com
Lewis Hamilton hit with grid penalty after Max Verstappen...
Lewis Hamilton has learned his fate after the F1... Read More »
5h ago from RacingNews365.com
FIA confirm Monaco Grand Prix disqualification penalty
The FIA have confirmed the penalty for F1 teams... Read More »
6h ago from GPFans.com
