Group Lotus has bought a 'major equity stake' in the Renault F1 team, and will rebrand the outfit as Lotus Renault GP from the start of the 2011 season, it's been announced today.
The deal between Lotus, Renault, and Genii Capital (the majority shareholder in the Renault F1 team) marks the return of the partnership between sports car maker and engine builder that produced the first win for Ayrton Senna back in the 1980s.
It also marks the start of some serious confusion for F1, as it means that two entirely separate teams could be competing under the Lotus name with Renault engines in the back - and all four cars could be wearing black-and-gold colours.
Lotus Renault GP has announced that it is to use the iconic black-and-gold JPS livery for its 'official' return to F1, a matter of weeks After Tony Fernandes's Lotus Racing - the team that's been competing under the Lotus name in F1 this year, but has nothing to do with Group Lotus the car maker - announced its intentions to do exactly the same thing
But the confusion is unlikely to remain. Group Lotus has withdrawn the licence for Tony Fernandes's team to use the Lotus name and, although Fernandes is fighting this, arguing that Lotus's F1 operations and its road car business have been historically separate, he may not be able to hold onto the Lotus name.
It looks like Lotus Renault GP has the stronger claim to the famous badge - being the only outfit officially connected with Lotus. The battle goes before the high court in London next year, but until then the two Lotuses (Lotii?) will be left to settle their differences on the track.