Who owns lotus f1

Fernandes, however, had already begun formulating a back-up plan by buying English sportscar manufacturer Caterham in April. That led to new talks with Group Lotus, which ended with them submitting the joint request to change their names that was agreed by F1 decision-makers on Thursday. The permission to change the names of the cars produced by the teams - and under which they are officially entered in the championship - was granted by the F1 Commission, a body of senior figures in the sport.

Chassis names have an impact on the amount of prize money a team can receive, which is partly distributed on grounds of historical results. Official permission from rivals is needed to change a chassis name because it has an effect on the amount of money all teams receive.

Last week, it was revealed that the cars run by the team currently known as Team Lotus would be known as Caterhams, and that the cars run by the team currently known as Renault would be called Lotus. On Wednesday, Fernandes announced that his team would be called Caterham F1.

Group Lotus bought the rights to the Team Lotus name to ensure it had control over it and to prevent the possibility of a similar dispute occurring in the future. Other petitioning creditors said they had also been paid in full. Lawyers for Proton, the Malaysian car company that owns the Lotus sportscar brand, did not attend the hearing with the court informed that the petitioner had either been paid or reached an arrangement.

The case had been adjourned repeatedly to allow Renault time to decide their Formula One future and complete the takeover of a team that employs some people at their factory in central England. In the team was renamed to Benetton Formula , following its purchase in by the Benetton family. Michael Schumacher won the drivers' championship with the team in both and In the team also won the constructors' championship.

Renault purchased the team in , and in they renamed it to Renault F1. In both and Fernando Alonso won the drivers' championship with the team, and the team won the constructors' championship with Giancarlo Fisichella as their other driver. At the end of , Renault sold a majority stake in the team to Genii. Group Lotus later terminated the licence, but Fernandes acquired the privately-owned Team Lotus name and used it in the season.

The purchase was a complicated arrangement that involved Genii first purchasing 6,, shares from Whiterock Alliance Ltd, to add to the 60,, it already had. Having established full ownership of the share capital it then sold 90 percent to Grigny UK Ltd — the company that previously owned the F1 team in its Benetton and Renault days — while retaining the remaining 10 percent.

It has been in existence since , and between December and March it was known as Benetton UK Ltd, the start even pre-dating the fashion company's involvement in F1.

When Renault acquired the Benetton F1 team the French manufacturer continued to own it under the Grigny name until it was passed on to Genii. Having almost been dormant over the past year, Grigny is now once again in frontline use by Renault as the immediate owner of the F1 team. Renault completed its takeover of Lotus earlier this month and is expected to outline its plans in a press conference early next year.

Remembering Stefan Johansson's deer-death experience. McLaren Honda - Where it went wrong and what lies ahead in Formula 1 It has been a tricky past few races for Sergio Perez. The Red Bull driver has mustered just 16 points since the British Grand Prix in July and the team's constructors' championship chances have taken a hit.

Yet the Mexican remains optimistic that he has all the tools he needs to turn his performances around. But he came into the weekend with a streak of recent crashes hanging over him.