Vital F1 - Group Lotus terminate sponsorship deal
Vital Login
Social Login

Other Sites

Network Navigation

Vital Partners

'If It's F1, It's Vital'

Group Lotus terminate sponsorship deal

Group Lotus have terminated their title sponsorship of the Lotus Formula One Team.

It's just the latest twist in the saga that has haunted F1 since the name Lotus returned to the sport.

One of the most boring and confusing episodes of Formula One branding was brought to a close at the end of last year after the conclusion of the legal dispute between Team Lotus [owned by Tony Fernandes] and Group Lotus [owned by Proton].

That was resolved by Team Lotus becoming Caterham and dropping the Team Lotus badge while still racing in the colours of British racing green, while Lotus Renault GP who had continued to race as Renault who had previously owned the team, with black and gold livery made famous by the John Player Special sponsorship of Lotus in the 1980's became simply known as Lotus for the 2012 Formula One World Championship.

However financial difficulties have seen Sportscar manufacturer Group Lotus and parent company Proton sold to Malaysian automotive conglomerate DRB-Hicom.

The changes have brought to an end the agreement that was in place to see Lotus buy into the Lotus F1 team with Genii Capital, however that agreement and its sponsorship deal have now been ended.

'The sponsorship agreement and the obligations of Lotus have been terminated. There is no option from Group Lotus to buy into F1 now - that option was taken over by us. There was one, but we have taken it over now.' Genii owner Gerard Lopez told Autosport Magazine.

But despite the news, Lopez is currently determined to keep the Lotus name in Formula One, while also using the opportunity to maximise sponsorship opportunities for the team.

'We are happy to carry the Lotus name as we believe it is a good name for F1, When we changed the name from Lotus Renault to Lotus, it opened up the door for a title sponsor. So if you take into account the fact we signed Unilever, probably the biggest sponsorship agreement this year in F1, and we signed Microsoft, which is huge news as it is a brand that has never been in F1 before, we have a wide space for sponsorship.

'If we sign a title sponsor now, we will end up with a better cash flow situation than this team ever had before.'








Join Vital F1

It's easy to join up and join in on VitalF1.com, simply click the link and enjoy getting involved!

If you are already a member of Vital Football, your logins will automatically work on VitalF1.com!

The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Wednesday April 11 2012

Time: 2:00PM

Your Comments

This on the BBC http://www.bbc.co.uk/news/business-17678804
cropped
 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Vital F1 Articles

McLaren drivers getting frustrated? (Friday August 28 2015)

Ferrari do not want fight with Pirelli (Thursday August 27 2015)

Hamilton delight at qualifying form (Wednesday August 26 2015)

Blog: Belgian GP Report (Monday August 24 2015)

2015 - Belgian GP- Race (Sunday August 23 2015)

2015 - Belgian GP - Qualifying (Sunday August 23 2015)

2015 - Belgian GP - FP3 (Sunday August 23 2015)

2015 - Belgian GP - FP2 (Friday August 21 2015)

2015 - Belgian GP - FP1 (Friday August 21 2015)

Raikkonen retains seat at Ferrari (Thursday August 20 2015)

Blog: Spa Preview (Wednesday August 19 2015)

Who will win the Belgium Grand Prix? (Tuesday August 18 2015)

Stevens pleased with Manor season (Friday August 14 2015)

Toro Rosso takeover talks over (Thursday August 13 2015)

Toro Rosso should push on (Monday August 10 2015)

Money means nothing to Ricciardo (Friday August 7 2015)

Honda to spend tokens (Thursday August 6 2015)

Force India investigate failures (Wednesday August 5 2015)

McLaren oppose testing plans (Tuesday August 4 2015)

Double podium for Red Bull Racing (Thursday July 30 2015)

Vettel dedicates victory to Bianchi (Wednesday July 29 2015)

Blog: Hungarian GP Report (Monday July 27 2015)

2015 Hungary GP - Race (Sunday July 26 2015)

Blog: Hungaroring Qualifying (Saturday July 25 2015)

2015 Hungary GP - Qualifying (Saturday July 25 2015)

2015 Hungary GP - FP3 (Saturday July 25 2015)

2015 - Hungary GP - FP2 (Friday July 24 2015)

2015 - Hungary GP - FP1 (Friday July 24 2015)

Drivers mourn at Bianchi's funeral (Wednesday July 22 2015)

Blog: Hungaroring Preview (Tuesday July 21 2015)

Who will win in Hungary? (Tuesday July 21 2015)

Chilton dedicates win to Bianchi (Monday July 20 2015)

Jules Bianchi dies aged 25 (Saturday July 18 2015)

McLaren trying to unlock potential (Thursday July 16 2015)

Red Bull lack patience (Wednesday July 15 2015)

Button's future up in the air (Friday July 10 2015)

Hamilton wants more control (Thursday July 9 2015)

Mercedes to power Red Bull Racing? (Wednesday July 8 2015)

Blog: British GP Report (Tuesday July 7 2015)

Records fall for Hamilton (Monday July 6 2015)

2015 - British GP - Race result (Sunday July 5 2015)

Blog: Silverstone Qualifying (Sunday July 5 2015)

2015 - British GP - Qualifying (Saturday July 4 2015)

2015 - British GP - FP3 (Saturday July 4 2015)

2015 - British GP - FP2 (Friday July 3 2015)

2015 - British GP - FP1 (Friday July 3 2015)

Hamilton calls for better trophies (Thursday July 2 2015)

Blog: Silverstone Preview (Wednesday July 1 2015)

Pirelli to request more F1 tests (Tuesday June 30 2015)

New contract for Horner (Monday June 29 2015)

F1 teams are all talk says Todt (Monday June 29 2015)

Formula 1 v Formula E (Monday June 29 2015)

Positive test for McLaren (Friday June 26 2015)

Mosley praise for Ecclestone (Thursday June 25 2015)

Red Bull to sack Horner? (Wednesday June 24 2015)

Angry Mateschitz (Tuesday June 23 2015)

Blog: Austrian GP Report (Sunday June 21 2015)

2015 Austrian GP - Race (Sunday June 21 2015)

Blog: Red Bull Ring Qualifying (Saturday June 20 2015)

Four drivers hit with penalties (Saturday June 20 2015)

2015 Austrian GP - Qualifying (Saturday June 20 2015)

2015 Austrian GP - FP3 (Saturday June 20 2015)

2015 Austrian GP - FP2 (Friday June 19 2015)

2015 Austrian GP - FP1 (Friday June 19 2015)

Italian Grand Prix to alternate? (Thursday June 18 2015)

Will Michelin return to Formula One? (Thursday June 18 2015)

Blog: Red Bull Ring Preview (Wednesday June 17 2015)

Who will win in Austria? (Tuesday June 16 2015)

Hulkenberg wins Le Mans (Monday June 15 2015)

Head knighted (Monday June 15 2015)

Archived Vital F1 Articles

List All Vital F1 Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. Red5 1057
2. DJ 970
3. The Fear 773
4. Villaininthemerde 612
5. johnkelv 583
6. Druss_the_Legend 541
7. Push The Button 461
8. col8 334
9. The Intimidator 167
10. __villa__ 145

Current Site Poll (view all polls)

Who will win in Belgium?
Hamilton 45%
Rosberg 8%
Vettel 2%
Raikkonen 35%
Bottas 2%
Massa 0%
Someone else 8%