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...
10y ago from FormulaSpy.com
Renault to announce team name, management in February
Renault has confirmed it has finally taken overall control of the Lotus...
10y ago from GrandPrixTimes.com
Renault confirm Lotus deal now complete
Groupe Renault has finally completed the acquisition of the controlling...
10y ago from TheCheckeredFlag....
Elsewhere On The Network
Popular On MGPToday.com
Former team boss Lin Jarvis definitively leaves Yamaha
No description available...
11h ago from Motorsport.com
Pedro Acosta: “Forgetting about the championship”...
No description available...
13h ago from Motorsport.com
Pramac MotoGP boss shares what ‘surprised’ him...
Pramac MotoGP Team Manager Gino Borsoi revealed that he was “quite...
1d ago from MotorsportWeek.c...
Rain spoils debut of Honda’s 850cc engine in Sepang...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Race start times for 2026 IndyCar season announced
The NTT IndyCar Series has announced the race broadcast start times for...
4d ago from MotorsportWeek.c...
Chip Ganassi Racing completes four-car roster for 2026...
No description available...
1w ago from Motorsport.com
Broadcast schedule for 2026 Indy NXT season announced...
No description available...
5d ago from Motorsport.com
Popular On TotalWRC.com
Why Hyundai expects to be stronger in WRC 2026
No description available...
10h ago from Motorsport.com
Red Bull co-owner Mark Mateschitz to enter Dakar...
No description available...
1d ago from Motorsport.com
Gregoire Munster confirmed for WRC Monte Carlo in...
The season opener marks a return to the event where Munster claimed his...
4d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Arsenal join Tottenham & Chelsea in race for...
Arsenal, Tottenham and Chelsea remain interested in signing the Juventus...
7h ago from CaughtOffside.com
Arsenal plot surprise raid for 6ft 5in teen sensation...
Arsenal are interested in signing the AC Milan defender Davide...
7h ago from CaughtOffside.com
Arsenal conceding late goals is not a defence issue -...
Another fright before Christmas. Arsenal never seem to do it the easy way.
16h ago from SkySports.com
Arsenal 1-1 Crystal Palace (8-7 pens): Own goal, late...
Match report – Player ratings – Arteta reaction – Quotes...
18h ago from Arseblog.com
Comments
Hottest News
F1 Academy reveals where it will support Formula One in 2026
F1 Academy, the female-only, Formula-4 level... Read More »
1h ago from F1Technical.net
Ferrari suggests that it could take some positives despite...
On the back of a disastrous season for the... Read More »
1h ago from F1Technical.net
Honda detail 'intense' Adrian Newey conversations as Aston...
Adrian Newey knows all about Aston Martin's new... Read More »
9h ago from RacingNews365.com
