Group Lotus vs Team Lotus: Tony Fernandes demands much more than $10 million
The Proton owned car manufacturing company, Group Lotus have assured once again that they want to get the ‘Lotus name dispute’ resolved outside the court. They further revealed that they have made several financial offers to Tony Fernandes’ Team Lotus, but
nothing seems to be settling peacefully.
As per some reports, Fernandes, the team boss and co-owner of the ‘1Malaysia company’, which calls itself 'Team Lotus' in the Formula 1 world, revealed earlier this month that the financial offer made by Group Lotus is too less to even be considered. It
was further disclosed that US$10 million have been offered to the team to get the affair settled out of the court.
The issue got air near the end of the 2010 season when Fernandes revealed his desire to continue racing in the series with same name. However, the owner of Group Lotus, Proton claimed to be the actual owner of the name and stated their desire to enter in
the series.
As the 2010 season came to an end, Group Lotus signed a deal with the French marquee, Renault, becoming their official title partner. Owing to the deal, the team will enter the 2011 grid with a name similar to Team Lotus; Lotus Renault GP.
To get the dispute settled outside the court, the first hearing was held at the start of the month in England but it is not expected to give its verdict until the end of the 2011 season.
Although, news has emerged in the media lately that the issue can be decided between the two with mutual consent, so far this does not seem possible. Proton revealed in a statement today (Thursday) that Fernandes wants to get the dispute resolved but wants
something between 22 to 37 million pounds to be paid to him.
Proton further stated, "For all intent and purposes, 1MRT cannot now demand for us to compensate them for a problem which they got themselves into."
However, Fernandes seem unyielding and is determined to fight untill all his demands are met.
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