Lotus F1 team ends sponsorship deal with Group Lotus, but will keep its name

Article by Christian Andrei, on April 10, 2012

Even as Lotus’ title sponsorship deal with the sportscar maker Group Lotus has ended, it will still keep its prominent name in Formula 1 for the future, according to an Autosport report. Group Lotus’ economic uncertainties related to having been newly sold off to Malaysian automotive conglomerate DRB-Hicom along with parent company Proton prompted Lotus F1's team owner Genii Capital to cut its formal relationship with the marque.

Autosport reported that Genii owner Gerard Lopez had inked a deal for the title sponsorship deal, which was initially put together in 2010, to be cancelled. It also wanted to annul an old option that Proton had to purchase 50% of the team. Lopez told Autosport that the sponsorship deal and Lotus’ obligations have been ended. He clarified that there is currently no option from Group Lotus to buy into F1 for now.

He said that there had been one option but since then, it has decided to take over. He added that because of the termination of the Group Lotus sponsorship tie-up, there would have to be changes but then he is still committed to the Lotus name.

He explained that the company is pleased to still use the Lotus name since it’s a “good name for F1.” He said that they provided the funding for the team last year and for the years that the delta is missing. He said that of course, sponsors are preferred to offer the full amount but if necessary, they will fund it themselves.

Topics: lotus, formula 1

If you liked the article, share on:


Login or Create new account to add a comment!


Carbon fiber has become a trend for cars nowadays. It is like the “diet pill” for cars. The car’s weight can be reduced greatly when certain parts or even entire...
by - July 21, 2016
The new Acura EV Concept will be fielded in the Electric Modified Class at the 2016 Broadmoor Pikes Peak International Hill Climb, as powered by an evolved version of the...
by - July 13, 2016
The 24 Hours of Le Mans or sometimes called the “Grand Prix of Endurance and Efficiency” is an annual active sports car race held near the town of Le Mans...
by - July 1, 2016
Citroën Racing is continuing to develop their 2017 World Rally Car in Portugal, less than a month after the race. Kris Meeke and Stéphane Lefebvre achieved considerable mileage during the...
by - May 23, 2016
A distinct example of the 2017 Camaro SS 50th Anniversary Edition will be the pace car at the 100th running of the Indianapolis 500. This version of the 2017 Camaro...
by - May 4, 2016