News Details
Renault purchased Lotus for £1
Renault bought a 90% stake in the struggling Lotus F1 team for just £1. The deal, concluded days before Christmas, sees the French manufacturer buy a 90% stake in the Enstone-based outfit it sold to Genii Capital in 2009. Whilst the original 2009 sale saw Renault take an £86m hit, further investment since then by Genii has seen a combined loss of £184m. According to the Daily Telegraph, the Enstone outfit's latest accounts reveal that in the year ending December 2014, revenue rose by 23.7% to £114.7m, thanks largely to Venezuelan state oil company PDVSA. This, combined with an 'aggressive cost-cutting plan', which began in early 2014, saw the Enstone team's net loss...
Full Story »
Full Story »
10y ago from Pitpass.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
Palmer wants long term F1 future with Renault
Formula 1 2016 rookie Jolyon Palmer is hoping for a long term future with...
10y ago from GrandPrix247.com
Renault confirm Lotus deal now complete
Groupe Renault has finally completed the acquisition of the controlling...
10y ago from TheCheckeredFlag....
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
Elsewhere On The Network
Popular On MGPToday.com
2026 MotoGP Buriram Test: Schedule, entry list and how...
No description available...
7h ago from Motorsport.com
Trackhouse boss suggests crucial change to MotoGP...
No description available...
8h ago from Motorsport.com
Ducati: 2027 MotoGP rules designed to prevent us from...
No description available...
12h ago from Motorsport.com
MotoGP to leave Phillip Island in favour of Adelaide...
MotoGP has confirmed that the Australian Grand Prix will move from...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Mick Schumacher gaining confidence on ovals after...
No description available...
9h ago from Motorsport.com
IndyCar expanding global broadcasting presence for the...
No description available...
1d ago from Motorsport.com
IndyCar grows international broadcast offerings for...
The NTT IndyCar Series has announced that its already extensive global...
1d ago from MotorsportWeek.c...
Alexander Rossi fastest as rain disrupts second...
The NTT IndyCar Series completed the second and final day of testing at...
2d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Hyundai “realistic and optimistic” in mission to...
No description available...
4d ago from Motorsport.com
Oliver Solberg “didn’t deserve more than P4”...
No description available...
5d ago from Motorsport.com
WRC Sweden: Elfyn Evans storms to victory as Toyota...
No description available...
5d ago from Motorsport.com
Elfyn Evans wins Swedish showdown
Elfyn Evans and Scott Martin clinched victory on Rally Sweden which ended...
5d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Mikel Arteta fires back at ‘bottlers' tag as...
Arsenal are fighting for the Premier League title, but they have been...
2h ago from CaughtOffside.com
Mikel Arteta rules out ‘bottlers’ jibe but accepts...
t;li>‘It’s not part of my vocabulary. I wouldn’t use that...
2h ago from TheGuardian.com
Man United accelerate move for 'generational' talent,...
Manchester United are hoping to sign the Brazilian attacker Gabriel...
5h ago from CaughtOffside.com
Liverpool join Arsenal in race for 23-year-old...
Arsenal and Liverpool are interested in signing the PSG attacker Bradley...
5h ago from CaughtOffside.com
Comments
Hottest News
F1 star jetted off from testing just 12 MINUTES after their...
A Sky Sports F1 star has revealed a hilarious... Read More »
8h ago from GPFans.com
F1: Bahrain Friday Recap: Pirelli
The absolute fastest time of the six-day... Read More »
2h ago from Pitpass.com
F1: Bahrain Test 2 Recap: Cadillac
We've had a really productive two weeks. A few... Read More »
2h ago from Pitpass.com
