The Renault Group signed with Gravity Motorsports a letter of intent to gain control of the Lotus Formula 1 team The French would get 65% of the British team.
R enault is one step closer to returning to the Formula One as factory equipment. While a few days ago the possibility was handled that the French brand acquired the Scuderia Toro Rosso, it was learned that have signed a letter of intent to acquire a stake that will allow to take control of team Lotus Formula 1 .
This has official status, after Gravity Motorsports, a subsidiary of Genii Capital , confirmed that the company will work with Renault to complete the acquisition of the Lotus team. Ensure that the Renault Group and Gravity Motorsports work together in the coming weeks to make this initial commitment is transformed into a definitive transaction.
Although not with the details of this agreement are not yet known, it is known that Renault is preparing to acquire a 65 percent of the team Lotus Formula 1 at a price that has been estimated at EUR 65 million . Of this amount, 7.5 million euros will be part of a down payment, while the rest of the money will be paid over the next 10 years. And who will keep the remaining 35%? Originally Gerard Lopez wishes to retain a 25% stake, while the remaining 10% would be left Alain Prost .
In recent months the relationship between Renault and Red Bull Racing has deteriorated to a point where now there is no possibility of reconciliation. Next year Renault cease to be the engine supplier for Red Bull, since Ferrari who will take his place.
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