Renault Buying Lotus Is Finally Happening

Team Enstone have a somewhat confusing history. They were born Toleman, became Benetton were purchased by Renault, then became Lotus Renault, then just Lotus with Mercedes engines and now… *breathes in* they’re becoming Renault once again.

After months and months of speculation, Renault have finally confirmed they will buy the Lotus F1 Team and make their first step towards becoming Renault’s Works F1 Team.

Here’s the Renault statement in full:

‘Renault Group and Gravity Motorsports S.a.r.l., an affiliate of Genii Capital SA, are pleased to announce the signature of a Letter of Intent regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd.

‘The signature of this Letter of Intent marks Renault’s first step towards the project of a Renault Formula 1 team from the 2016 racing season thereby extending 38 years of commitment of the brand to world’s premier motorsport championship series.

‘Renault Group and Gravity will work together in the coming weeks to eventually turn this initial undertaking into a definitive transaction provided all terms and conditions are met between them and other interested parties.’

It’s also believed that Renault will pay-off the team’s current debt, as last weekend Lotus reached an all-time low when they were locked out of their own hospitality due to an unpaid bill from the previous year’s Japanese Grand Prix.

Here’s hoping that awesome yellow livery returns too, ay?