In Competition: It’s The Business! The Renault team return to Formula 1 after buying into Lotus F1 Team.

The runrún was permanent and has finally dropped the news. Renault has confirmed this Thursday at 22:00 in the evening in Spain, the purchase of Lotus F1 Team and its returning with its own team in the Formula 1 World. Has been the Twitter account of the Renault Group in charge of giving the news, including a telling quote from Carlos Ghosn, maximum responsible of the company and reluctant in regards to the investment on competition of Renault when he arrived there a decade ago.

Ghosn says in first person “I have decided that Renault will be in Formula 1 from 2016. The last details offered by the main ‘stakeholders’ gave us enough confidence to accept this new challenge,”. That is to say, the meeting with Jean Todt and Bernie Ecclestone in the last few days and warranties to be claimed by Carlos Ghosn have been key to the closure of the buyback of the equipment based in Enstone. In fact, the press release insists that the decision has only been taken once it became clear the necessary funding, once guaranteed the historical rights to opt-in to the maximum column of the payments from the FOM.

The statement also emphasizes that a dedicated team Renault will be able to take maximum advantage of their victories, compared to the limited impact of his triumphs as a supplier of engines. Even so, they remain fringe for a closing in regard to the purchase of Lotus F1 Team and until January are not given all the details on how it will be handled from now on the team.

Photo | Renault