Lotus now on pole for Renault buyout, Prost involved? (14th Update)
 |
| Renault finally buys Lotus |
This rumor is finally upgraded to 'fact' with today's announcement:
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 Intent regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd.
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 world’s premier motorsport championship series.
Renault Group and Gravity will work together in the coming weeks to eventually turn this initial undertaking into a definitive transaction provided all terms and conditions are met between them and other interested parties.
09/26/15 The Renault buyout of Lotus deal is supposedly done – see this Hot News article. There is no indication Prost is involved.
09/20/15 With Maldonado re-signed, now the question arises of what Romain Grosjean will do next, now that the deadlock is broken.
The French driver said on Thursday that he has decided what he is doing for next year and most informed paddock sources suggest that this is a move to the new Haas F1 team. He too has been waiting for this Maldonado news; now it's here will that change the plan? Would he not want to stay with the Renault 'factory' team given he is French?
Performance-wise, it is hard to judge whether the new Renault team or the Haas Ferrari 'B' team will be better placed in 2016. Much depends on how much Renault has invested in its 2016 engine development program and how much Ferrari has helped Haas.
Renault has not produced any development engines this season and its allocation of 'tokens' remains untouched, which seems strange if they are indeed staying in F1. Would they not try harder this year? Or maybe they were not about to do anything to help the Red Bull outfit in 2015 knowing they were getting a divorce. Mark C. reporting for AR1.com
09/20/15 (GMM) Rumors swirling in the Singapore paddock and among international correspondents indicate the buyout deal between Renault and Lotus is finally now done.
France's RMC said it could be announced in one week, ahead of the Japanese grand prix at Suzuka.
Major publications including Auto Motor und Sport and Bild newspaper in Germany refer to the existence now of a letter of intent, in the name of both Renault CEO Carlos Ghosn and Lotus owner Gerard Lopez.
Renault F1 chief Cyril Abiteboul, however, said the document is "not" definitive confirmation of the buyout, and does not include details such as monetary values.
Many, however, believe the only missing piece now is the green light by Bernie Ecclestone, whose extra official income would reportedly help to pay for the deal.
Abiteboul said those talks are "on track".
But to Germany's Sport Bild, he said the Lotus buyout is not yet done.
"Everything is still open," said Abiteboul. "Lotus is our first choice, but we have other options including Force India."
The Frenchman said Ghosn wants until the "end of the month" to determine Renault's F1 plans, but "let us not dictate the timing as to the hearings around Lotus".
He is referring to the fact that a London high court judge will reconvene a session next Monday, where Lotus could be placed into administration due to unpaid British tax bills.
Lotus owner Lopez, from Luxembourg, said: "Everything is going well but I can't really comment. We are moving in the right direction."
It is believed that, once the deal is done, Pastor Maldonado and his PDVSA millions will stay at the Enstone team for 2016, while Romain Grosjean is heading to Haas-Ferrari after falling out with Renault chiefs.
Venezuelan Maldonado said in Singapore: "I have worked for many years with Renault and we have a good and strong partnership.
"They may have some problems at the moment with the power units, but that is not something they cannot solve."
If and when the Lotus buyout is announced, it is expected the plans of Renault's current and soon-to-be ex-partner Red Bull will also become clearer.
Asked about rumors linking Red Bull with Volkswagen, Dr Helmut Marko was quoted by Spain's AS newspaper: "We have negotiated about various things (with VW) for more than seven years, but still we have nothing to say on the matter.
"Although it is true that in the next two weeks we will solve our situation," he added.
09/03/15 (GMM) Renault is now poised to sign an option to buy a majority stake of the ailing F1 team Lotus, the German publication Auto Motor und Sport reports.
The fate of the beleaguered Enstone team, and Renault and partner Red Bull's next steps in F1, are the subject of intense speculation in the Monza paddock.
News of the apparently imminent signing of an 'option' is therefore significant, but correspondent Michael Schmidt said the entire story and all of its ramifications will probably not be clear until the end of September.
"The situation is extremely complex with many decisions that must be taken," said Toto Wolff, referring to the fact that Mercedes is waiting for clarity before entering talks to become Red Bull's next engine supplier.
Indeed, so complex is the situation that Renault – although the likely new team owner – may leave the Lotus team name and identity in place for 2016, including the existing Mercedes engine deal.
Romain Grosjean and the PDVSA-backed Pastor Maldonado would also stay, with Renault planning for 2017 behind the scenes, and insisting that Red Bull and Toro Rosso honor their contracts next year.
But another possibility is that Lotus will become the full 'Renault' works team already next year, with the Red Bull deals duly terminated.
That, however, maybe be complicated, as the current Red Bull engine deal is tied up with lucrative sponsorship contracts – reportedly tipping the scales at almost $90 million – with Total and Infiniti, which also would need to be scrapped.
Auto Motor und Sport also reports that Renault is ultimately targeting an annual budget for its works team in the order of $300 million, which is along the lines of what Mercedes spends.
That big budget will be put together by Renault scrapping its support of the Formula Renault 3.5 'World Series', the combined sponsorship by Total and Infiniti, and reportedly a bonus payment made by Bernie Ecclestone.
It is also said that the new silent partner Gerard Lopez could provide existing or new sponsorships for the team that he will continue to part-own.
07/29/15 (GMM) Among Renault's top brass, it is decision time.
That is the claim of the German magazine Auto Motor und Sport, reporting that CEO Carlos Ghosn, Alain Prost and Cyril Abiteboul all met in Paris on Tuesday.
"Renault are close to a decision," said F1 supremo Bernie Ecclestone.
"Formula one is still good for them but they have to decide whether they want to supply engines or go back to running a team," he told The Times newspaper, as Renault and Lotus now openly admit that talks are taking place.
"We want them to stay, obviously," Ecclestone added, "but I think we will know soon what is happening."
Writing in the Swiss newspaper Blick, veteran correspondent Roger Benoit said that despite rumors to the contrary, Renault is committed to honoring its engine supply contracts with Red Bull and Toro Rosso next year.
But it is clear that the relationship between Renault and Red Bull is dysfunctional, and so an agreement to mutually terminate the deal also cannot be ruled out.
"I think if they stay in they need to do the job properly," team boss Christian Horner told BBC's Radio 4. "You can't be half in or half out in F1.
"They have those decisions to make in the near future and it will be interesting to see what they decide," he added.
07/14/15 (GMM) Lotus has denied it is on the cusp of being sold back to Renault.
Reports suggest current team owner Gerard Lopez will meet with Renault CEO Carlos Ghosn in Hungary next weekend to hammer out a deal.
Given that, just half a decade ago, the transaction was in reverse, Red Bull team boss Christian Horner observed wryly that the story contains a "certain irony".
He told F1's official website that, notwithstanding any Lotus-Renault talks, Red Bull is contractually guaranteed top billing with Renault power next year.
As for 2017, "That could be a completely different ball game," Horner admitted.
Lotus CEO Matthew Carter, however – who Lopez has left in charge of the Enstone team for now – insists the reports of an imminent buyout are not right.
"As CEO of this company I know nothing of any such offer," he is quoted by Speed Week.
"I know that Renault is currently looking carefully at its involvement in formula one. We know that when it comes to returning to a factory team, the usual candidates would be on the list and we would possibly be the best choice.
"But there is no offer," Carter insisted. "The shareholders have told me repeatedly that the Lotus team is not for sale."
Undoubtedly, however, selling Enstone back to Renault would be a timely solution for troubled Lotus.
Highlighting F1's income and governance issues, European parliamentarian Anneliese Dodds pointed out the "urgency of the situation … with Lotus facing a winding-up petition in the High Court" due to a disgruntled supplier.
07/13/15 (GMM) Gerard Lopez is planning a rare-in-2016 visit to a grand prix next weekend.
The Luxembourger, who owns and officially heads the Enstone based team known today as Lotus, has hardly been seen trackside this year, amid swirling speculation about the future.
"He's certainly been to two if not three of the races this season," team CEO Matthew Carter insisted recently, whilst admitting that Lopez is "busy on other projects".
However, one of the matters on Lopez's desk at present is the need for urgent talks with Renault, according to the Finnish newspaper Turun Sanomat.
It has been rumored he is close to agreeing a sale of the Enstone team back to the French carmaker, which was rebranded as 'Lotus' after the 2010 season.
On this matter, "Time is running out," explained correspondent Luis Vasconcelos.
"Our information is that Lopez and (Renault CEO Carlos) Ghosn will meet at the Hungarian grand prix to make the deal.
"Lotus' financial situation is difficult, under pressure in the courts from creditor Xtrac. If a deal is made, the debts will move to Renault," he added.
Turun Sanomat went on to claim that if Renault does buy Lotus, Cyril Abiteboul is determined to lead the team but some officials believe the former Caterham chief, who is just 37, lacks the experience.
Quadruple world champion, former team owner and boss and Renault ambassador Alain Prost has been linked with the job.
If it does all happen, Red Bull could be left in the odd situation of no longer being the premier or 'works' Renault team.
But boss Christian Horner insists that can't happen.
He told F1's official website that Red Bull has "a very clear agreement with Renault which guarantees us priority status".
07/07/15
 |
| Stick a fork in the Renault to buy Lotus rumors, they're done. |
This rumor is downgraded to 'false' today. Lotus F1 CEO Matthew Carter insists that Renault has not made a formal offer to acquire the team, despite suggestions in the paddock that a deal is almost done.
In recent months Renault talked to all the midfield teams about a possible takeover. However, the French company's history with Enstone outfit makes Lotus an obvious choice, if the financial issues surrounding the team can be addressed.
"As CEO I know nothing of any offers, bids or anything that's going on," Carter told FOXSports.com. "I know that Renault are looking at their involvement in F1, but whether they get more involved or less involved, I don't know. I think they've got issues they need to resolve with their engine at the moment, and they probably need to concentrate on that.
"We know that they looked at the usual candidates. We probably are the best fit for them. But as I said there's been no offers, no further interest. I think they need to concentrate on their engine at the moment."
Carter says team owner Genii Group does not want to sell.
"The shareholders have repeatedly told me that it's not for sale. They wouldn't want to sell it at this point. In terms of where we are as a team and as a business, we're heading in the right direction. When I came in 18 months ago it was always a five-year plan to sort things out, sort the finances out. We put the Mercedes engine in, and it's all about trying to move up the constructors' table. I think if they did do something now I think they'd kick themselves that they didn't see it through."
One added complication is that Lotus is committed to Mercedes: "We've got a long-term contract with Mercedes until 2020, from my point of view as the CEO I wouldn't want to change that engine, so that's where we are." Adam Cooper/Fox Sports
07/03/15
 |
| If Renault buys Lotus Horner's Red Bull team will get level 'B' Renault engines |
(GMM) Renault has decided to return to full team ownership in formula one.
That is the claim of multiple international media sources, including France's Autonewsinfo, citing the confirmation of people close to the news.
It appears the French carmaker has struck a deal with the Enstone based team currently known as Lotus, which until 2009 was already Renault's works outfit.
The reports say Renault is initially buying back 51 per cent of the team from Gerard Lopez's Genii company, while quadruple world champion Alain Prost is set to play a key role.
It is believed Renault will have to pay a financial penalty for breaching Lotus' existing engine contract with Mercedes.
And the news will ramp up speculation Renault's own engine customers, Red Bull and Toro Rosso, will have to revert to Ferrari power or quit the sport.
When asked about the latest Renault rumors, current Lotus driver and Frenchman Romain Grosjean admitted the speculation is "exciting".
"Being a fan of formula one, I really want to see a French team, and to hear 'La Marseillaise' on the podium," he told RMC Sport.
"The rumors about the return of Renault is something pretty cool and definitely something that is tempting for me," Grosjean added.
As for the related rumors about Prost's F1 return, the 29-year-old continued: "He is a gentleman of motor sport. It would be nice to work with Alain."
06/25/15
 |
| Lotus to be bought by French? |
(GMM) Speculation Renault is close to buying back the Enstone based team will not go away.
The persistent rumor is now being reported by Germany's Bild newspaper, which claims the French carmaker is set to make a "concrete offer" to the team now called Lotus "in the coming weeks".
Bild said quadruple world champion and Renault ambassador Alain Prost is playing a role.
It follows Prost having told the French broadcaster Canal Plus after the Austrian grand prix that a return to a management role in F1 is "not impossible".
"Lotus owner Gerard Lopez could not be reached" for comment, Bild said.
It could be a case of many current rumors all coming together. Renault currently supplies engines to Red Bull, who have been notably vocal in their discontent in 2015.
Suddenly, however, there are reports boss Christian Horner could be about to lose his job.
"Unfortunately in formula one there are always rumors," Briton Horner said on Wednesday, "and this (one) is total rubbish.
"I'm fully committed to Red Bull and I love what I do."
Also rumored recently is that, if Renault and Red Bull do split, the energy drink-owned team might turn to customer Ferrari power.
Horner, however, ruled it out on the basis that the Italian outfit would supply Red Bull with inferior equipment.
"Horner saying he doesn't want a Ferrari 'B' engine, for me, is a smokescreen," said former F1 driver and now broadcaster Marc Surer.
"The engines are homologated and so the manufacturers are not supplying inferior equipment to their customers," he is quoted by the Berliner Kurier.
06/07/15 (GMM) Details of Renault's apparent interest in buying back the Enstone based team known currently as Lotus are now emerging.
It has been rumored for some time that, having sold the outfit to Gerard Lopez's Genii company at the end of 2009, the French carmaker now wants to ramp its F1 profile back up with a return to full works status.
Lotus chief executive Matthew Carter played down the speculation in Canada.
"The last information I heard (in the media) was that we were going to be sold by the end of May but we're still here and we're still the same team," he said.
"That's as much as I can say."
The end-of-May story was about a supposed self-imposed deadline for the conclusion of talks between Lotus and Renault, who have reportedly also looked into buying other F1 teams.
But the Spanish sports daily Marca is sure that Renault's plans to buy back Lotus in time for the 2017 season remain on track.
The report said a new company has already been formed to find investors, featuring Renault's traditional oil partner Total, and that an announcement could be looming as soon as the British grand prix early next month.
Lotus' Carter said in Montreal: "I continue to say the same thing — the shareholders have told me that the company isn't for sale.
"I think I've said in the press before that everything is sale for a certain price.
"I continue to reiterate that we signed a long-term (engine) contract with Mercedes-Benz and as far as we're concerned we just continue down that route," he added.
05/28/15 (GMM) International media sources believe Lotus is on the cusp of being sold.
Just two weeks ago, amid rumors the Enstone team was in talks with its former owner Renault, Lotus chief Matthew Carter declared: "My shareholders have said quite specifically the team isn't for sale".
But the speculation did not stop.
It has been fueled, in part, by the fact that Gerard Lopez, representing the majority owner Genii, has been almost completely absent from the paddock so far in 2015.
The Luxembourger then suddenly appeared in Barcelona, where Italy's Autosprint now reports that talks to sell a major chunk of the Enstone team back to Renault took place.
It is well known that Renault is openly contemplating its approach to F1 at present, having not ruled out staying as a supplier, quitting altogether or returning to full works team status.
Autosprint reports that one plan devised by Renault's F1 operations chief Remi Taffin is to buy back Enstone and re-install Bob Bell as team boss.
It is claimed a final decision – at least with regards to the Enstone plan – could be made by the end of this week.
Renault chairman and CEO Carlos Ghosn was a notable figure in the Monaco paddock last weekend.
Writing in Finland's Turun Sanomat, correspondent Luis Vasconcelos agrees: "Negotiations on the purchase of the Lotus team have progressed to the decisive phase.
"A deadline for the Lopez and (Renault F1 boss Cyril) Abiteboul negotiations is the end of May, so the outcome is expected in the coming days," he added.
05/16/15 This rumor is downgraded to 'false' today. Lotus CEO Matthew Carter has dismissed speculation it could be taken over by Renault as the French manufacturer continues to consider its future in Formula One.
"I know that Renault are evaluating their role within F1 at the moment," Carter was quoted as saying by Reuters. "I think they are from a fairly high level trying to decide whether they just make engines, whether they pull out of the sport altogether or whether they look at a works team. My shareholders have said quite specifically the team isn't for sale."
Current Renault customer Toro Rosso seems to be the most likely team to be purchased by the French outfit. Red Bull's future in Formula One looks increasingly unlikely to involve Renault beyond 2016, with Helmut Marko recently telling the BBC "either Audi is coming or we are out", referring to the rumored entry of the Volkswagen Group to the sport.
04/08/15
 |
| Lotus to be bought by Renault after signing a long-term Mercedes engine deal? |
(GMM) Lotus has reportedly moved into pole position to be taken over by the French manufacturer Renault.
Dissatisfied with its current status as mere supplier to Red Bull, the marque has been in talks with the energy drink company's junior team Toro Rosso about a buyout.
But Dr Helmut Marko said last week that a sale to Renault is in fact not likely, as Red Bull wants to maintain is "close relationship" with Toro Rosso.
He said the "more likely" scenario is that Toro Rosso simply takes on a "yellow livery to have a better marketing platform" for Renault.
"But of course the figures have to correspond," added Marko.
It now appears that Renault is looking elsewhere.
Writing on his blog f1-insider.com, Ralf Bach claims Renault has EUR 30 million to spend on buying into a team, with former Mercedes chief Bob Bell put in charge of the discussions.
German correspondent Bach wrote: "The options are Lotus, Force India, Toro Rosso and Sauber."
In Malaysia, Force India and Lotus played down the Renault rumors, with Lotus chief executive Matthew Carter saying: "Lotus isn't for sale. We're not looking for a buyer.
"We've just signed a long-term deal with Mercedes-Benz which takes us through to 2020, so any talk of any change of engine or change of ownership is completely off the cards," he insisted.
However, a source says the Enstone-based team is actually the one now favored by Renault advisor Bob Bell.
"That's because Bell's house is just 15 minutes from the Lotus factory," the source is quoted as saying.
Indeed, Bell knows Lotus extremely well, having worked at Enstone throughout the Benetton and works Renault period. He was even team boss for a time in 2009 in the wake of the 'crash-gate' scandal.
Bach reported that Sauber is "too expensive" for Renault, while the EUR 30 million would not even buy the yellow livery being offered by Toro Rosso.