It has been 15 years since Lotus last participated in Formula One but the recent buzz is that it might just make its return.
The team would take over BMW Sauber, and be supported by Malaysian oil giant Petronas and Lotus, which is owned by Malaysia's national car maker Proton. Last month, BMW Sauber announced it would pull out of the race.
Peter Sauber, who owns a 20% stake in his former team, was reported to be in Malaysia to discuss a potential takeover with BMW's chief sponsor Petronas. Fueling the rumors are recent developments that include Lotus naming Dany Bahar as its new CEO last week.
Bahar, who will take over on October 1, has strong motorsport connections through his time at Red Bull and more recently, Ferrari. Bahar had said that he is "looking forward to taking on the challenges as CEO of this legendary and iconic company with a peerless motor sport history."
He added that he is rearing to get his plans underway in October. The Lotus Formula One name is currently owned by F3 team Litespeed and it lodged an entry to take part in next year's championship, although it was originally overlooked.
Mike Gascoyne, who spearheads Litespeed, is said to be prepared to do a deal with BMW Sauber to secure a place on the grid next year.