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
‘Super talented’ MotoGP rookie Diogo Moreira...
Pedro Acosta believes “super talented” rookie Diogo Moreira has the...
23h ago from MotorsportWeek.c...
Fermin Aldeguer remains hospitalised after leg surgery
No description available...
1d ago from Motorsport.com
Max Biaggi: Aprilia 'not scared by any track' after...
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
Ranking IndyCar’s rising stars to watch in 2026
No description available...
2d ago from Motorsport.com
Alex Palou delivers takedown of McLaren F1 drivers...
IndyCar champion Alex Palou has delivered a takedown of both McLaren...
4d ago from MotorsportWeek.c...
Will Power turns first IndyCar laps with Andretti at...
IndyCar veteran Will Power completed his first test laps with his new...
4d ago from MotorsportWeek.c...
Power completes “very good” first outing with...
No description available...
5d ago from Motorsport.com
Popular On TotalWRC.com
How Elfyn Evans plans to finally achieve rallying’s...
No description available...
1h ago from Motorsport.com
Dakar 2026, Stage 9: Ford takes 1-2 in overall...
No description available...
2h ago from Motorsport.com
Naturally-aspirated V8: What Ford is doing differently...
No description available...
21h ago from Motorsport.com
How did WRC champion Kalle Rovanpera’s single-seater...
No description available...
21h ago from Motorsport.com
Popular On GunnersToday.com
Report: Arsenal contact club over signing wonderkid...
Arsenal have reportedly been in contact with Brazilian club Corinthians to...
21m ago from CaughtOffside.com
Why Arsenal losing Mertesacker is a blow
Over the past decade, arguably the most successful part of Arsenal has...
1h ago from SkySports.com
Deal blocked: Arsenal won't sell star this January...
Arsenal are reportedly not prepared to sell defender Ben White in this...
1h ago from CaughtOffside.com
Xabi Alonso privately complained to his staff that...
Sacked Real Madrid head coach Xabi Alonso reportedly told his coaching...
3h ago from SportsKeeda.com
Comments
Hottest News
F1 race where Lewis Hamilton took famous win could make...
A legendary F1 track could be set for a return to... Read More »
1h ago from GPFans.com
Denny 'the Bear' roars for the final time
Harking back once again to the days when Formula... Read More »
1h ago from F1i.com
Lewis Hamilton urged to finally quit F1: 'It's sad to see...
Lewis Hamilton endured a highly challenging first... Read More »
21m ago from RacingNews365.com
