Renault set for Lotus takeover

It has been understood for some weeks now that Renault are looking to buy out a midfield Formula One team and restore their works team. AUTOSPORT reported last night that the financially-struggling Lotus team has been selected, and the deal is set to be complete next week.

It is believed that Renault will buy a 65% stake in the team, worth £65million. The team’s current owner Gerard Lopez is set to retain his 25% stake in the team through his Genii company, with Renault ambassador Alain Prost taking the remaining 10%.

This will mean there are four works teams on the grid for next year, alongside Mercedes, Ferrari and McLaren.

However, Renault still have an obligation to Red Bull in prioritising the Milton Keynes team. Although the four-times double World Champions are looking to put an end to their Renault contract, Renault may have to continue running a Mercedes engine for next year before running their own engines in 2017.

This will be timed with the regulations changes set to be introduced to make Formula One cars quicker and more aggressive looking.

Romain Grosjean looks secure at the team for next year, but Pastor Maldonado is currently in talks with his main sponsor PDVSA to ensure he remains with the team for 2016. GP2 World Champion and current Lotus reserve driver Jolyon Palmer is a hot target to replace Maldonado if the Venezuelan cannot provide the funds.

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