Ecclestone: Renault to decide Lotus deal this week

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We’ve discussed the financial challenges of Lotus in the past week and how they are facing nearly $1 million in payments to creditors as well as how they couldn’t participate in Friday Free Practice in Hungary due to unpaid bills with Pirelli. We’ve also mentioned that there was talk of Renault having an interest in re-acquiring the team and that rumor seems to have gotten some legs.

According to the delightful Adam Cooper, Formula 1 boss Bernie Ecclestone says that the deal could be decided upon within a few days:

“We’re gradually getting things sorted out,” Ecclestone told Cooper. “By this week we’ll know which way we’re going. Hopefully then we’ll know whether Renault are going to take them over, or what’s going to happen.”

Renault was the original owner of the team prior to selling it to Genii Capital but now the financial pressures have mounted and they are looking to sell. It was also understood that Renault were possibly looking for a Historic Team bonus payment from F1 should they acquire Lotus but Ecclestone says no:

“They’ve got to do what everyone else is doing. They’re buying a team, they’re taking over a team. If you took a team over you’d be entitled, except that they are a manufacturer so we are looking after them a bit differently. Renault would come off better than if a private person did it as they’re a manufacturer.”

Ecclestone was positive that they would have a solution for Lotus in the near future to keep them int he sport but what other methods they may have should Renault decide not to purchase the team remains to be seen.

The challenging issue could be the multi-year contract they have with Mercedes for engines given that Renault would certainly want to run their own engines…although at this point I am not sure if that’s such a good idea.  I jest!

Hat Tip: Adam Cooper

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Graeme Fuller

Interesting. Could this give Renault their own F1 team and the historic bonus to help with debt.
This could allow them to get rid of Red Bull.
Maybe Red Bull could do a deal with Ferrari????
Time and money????? Will tell

runnah

Stewards have awarded you a drive thru for excessive punctuation. ;)

Red Bull is going to go with Honda.

Graeme Fuller

Damn just when I was starting to get into clear air.

Negative Camber

Use more DRS. ;)

MIE

Now you’re just trying to appeal to the 50.40% that want to keep DRS.

runnah

Well we’ve seen lately that contracts in F1 aren’t worth much. Maybe it’s something as simple as “Hey you’re contract was with Lotus, we are Team Renault”.

IDK, I am no lawyer.

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