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 »
10y 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...
10y 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
Ducati still favourite after MotoGP Sepang test, but...
No description available...
3h ago from Motorsport.com
What happened at MotoGP’s official season launch in...
No description available...
1d ago from Motorsport.com
Yamaha: ’2026 MotoGP bike not performing badly but...
No description available...
1d ago from Motorsport.com
Honda’s Joan Mir believes Ducati has given rivals a...
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
McLaren eyes Fernando Alonso reunion to complete...
Zak Brown has said he will "continue to bug" Fernando Alonso to...
21h ago from MotorsportWeek.c...
Arrow McLaren unveils liveries for 2026 IndyCar...
Arrow McLaren has taken the wraps off its trio of challengers for the...
3d ago from MotorsportWeek.c...
Zak Brown “would love” Indy 500 reunion with...
No description available...
2d ago from Motorsport.com
Arrow McLaren officially opens doors to new home in...
No description available...
2d ago from Motorsport.com
Popular On TotalWRC.com
Esapekka Lappi thought his WRC career was over, but...
No description available...
2d ago from Motorsport.com
Kalle Rovanpera co-driver Jonne Halttunen lands Toyota...
No description available...
2d ago from Motorsport.com
Iconic Ouninpohja stage dropped from 2026 WRC Rally...
No description available...
5d ago from Motorsport.com
More than 10 tuners interested in joining WRC under...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Sunderland boss Regis Le Bris makes Arsenal PL...
Sunderland boss Regis Le Bris has tipped Arsenal to win the Premier League...
3h ago from SportsKeeda.com
Arsenal, Man United and Spurs battle for 55m-rated...
AC Milan are looking to restructure their squad at the end of the season,...
5h ago from CaughtOffside.com
10 Goals, 9 Assists: Arsenal eye Barcelona target in...
Arsenal are reportedly interested in signing the Belgian attacker Mika...
6h ago from CaughtOffside.com
Arsenal 3-0 Sunderland: Gyokeres makes a big impact...
Match report – Player ratings – Arteta reaction – Video...
6h ago from Arseblog.com
Comments
Hottest News
McLaren sure of ‘exploiting' key area to ensure 2026...
McLaren boss Andrea Stella has revealed a key... Read More »
1h ago from MotorsportWeek.com
Former F1 star to compete in 2026 Winter Olympics
A former racing driver with the Sauber F1 team... Read More »
3h ago from GPFans.com
‘Annoyed and Sad’: Bearman blunt on F1’s new energy...
For Haas charger Oliver Bearman, the transition... Read More »
1h ago from F1i.com
