News Details
Renault purchased Lotus for £1
Renault bought a 90% stake in the struggling Lotus F1 team for just £1. The deal, concluded days before Christmas, sees the French manufacturer buy a 90% stake in the Enstone-based outfit it sold to Genii Capital in 2009. Whilst the original 2009 sale saw Renault take an £86m hit, further investment since then by Genii has seen a combined loss of £184m. According to the Daily Telegraph, the Enstone outfit's latest accounts reveal that in the year ending December 2014, revenue rose by 23.7% to £114.7m, thanks largely to Venezuelan state oil company PDVSA. This, combined with an 'aggressive cost-cutting plan', which began in early 2014, saw the Enstone team's net loss...
Full Story »
Full Story »
10y ago from Pitpass.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...
10y ago from JWGrandPrix.com
Palmer wants long term F1 future with Renault
Formula 1 2016 rookie Jolyon Palmer is hoping for a long term future with...
10y ago from GrandPrix247.com
Renault confirm Lotus deal now complete
Groupe Renault has finally completed the acquisition of the controlling...
10y ago from TheCheckeredFlag....
Renault formally complete takeover of Lotus F1 Team
Renault have announced that their takeover of the Lotus F1 Team has been...
10y ago from FormulaSpy.com
Elsewhere On The Network
Popular On MGPToday.com
Best wildcard performances in the MotoGP era
No description available...
11h ago from Motorsport.com
Is Alex Marquez’s Jerez MotoGP breakthrough real or...
No description available...
1d ago from Motorsport.com
Should there be a tear-off rule following Marco...
No description available...
3d ago from Motorsport.com
Miguel Oliveira reveals what’s ‘more difficult’...
Miguel Oliveira says WorldSBK’s race weekend format is harder to adapt...
3d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
FOX unveils plan for 60 hours of Indy 500 coverage
No description available...
4h ago from Motorsport.com
Motorsport legend Alex Zanardi dies aged 59
Ex-F1 and CART driver Alex Zanardi has passed away aged 59. His family...
2d ago from MotorsportWeek.c...
Mick Schumacher shares injury update after breaking...
No description available...
4d ago from Motorsport.com
Zanardi: The man whose name is a synonym for “hero”
No description available...
2d ago from Motorsport.com
Popular On TotalWRC.com
Why Hyundai’s WRC season “really starts” at...
No description available...
11h ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
5d ago from Motorsport.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
5d ago from Motorsport.com
How Dani Sordo brings "different ideas" to...
No description available...
5d ago from Motorsport.com
Popular On GunnersToday.com
Carra: If Arsenal beat West Ham, they win the Premier...
If Arsenal beat West Ham at the London Stadium on Sunday, live on Sky...
2h ago from SkySports.com
Should Lewis-Skelly start against Atletico? I'd like...
Thierry Henry said Myles Lewis-Skelly's future lies in midfield after his...
4h ago from SkySports.com
Mileage in Myles in midfield: why MLS must change...
I’ve been banging the drum for Myles Lewis-Skelly to move into midfield...
5h ago from FreshArsenal.com
Have Arsenal found the keys to unleash Gyokeres at the...
Viktor Gyökeres has divided opinion since arriving, but one thing is...
7h ago from FreshArsenal.com
Comments
Hottest News
Hamilton hints Ferrari might 'have the best car, but it’s...
Hamilton did not hide his disappointment after... Read More »
1h ago from F1Technical.net
Fernando Alonso identifies new Aston Martin issue amid...
Fernando Alonso has highlighted the next agenda... Read More »
6h ago from MotorsportWeek.com
F1 legend Martin Brundle reacts after bizarre microphone...
F1 legend Martin Brundle has issued his response... Read More »
4h ago from GPFans.com
