Lotus Renault delighted to finally be able to use Lotus name officially from 2012 – Formula 1 news
Team Lotus has confirmed its agreement on the settlement over using the Team Lotus name in Formula 1.
Proton and Group Lotus had a settlement with Lotus and reclaimed the sole rights to use the Team Lotus name. Owner Tony Fernandes had purchased the rights from David Hunt who was the previous holder of the team and the name.
Fernandes had won the rights to be the sole user of the name earlier this year but after a deal with Caterham cars, Fernandes decided to drop the issue entirely and change the team name to Caterham for 2012.
The Formula 1 Commission meeting approved the change from Team Lotus to Caterham for 2012, which means that Renault will switch to Lotus. Group Lotus acquired the rights to the Team Lotus name from Fernandes now that his team will run under the name of Caterham
F1 starting from next season.
Group Lotus chief Dany Bahar seemed to be satisfied with the settlement and said now that only one team would be able to use the Lotus name starting from 2012 it will eradicate the confusion that fans and followers would have to go through with two teams
using the same name.
“On behalf of Group Lotus and Proton I would like to express how pleased we are that this matter is finally closed and thank our fans for their continued support, it means everything to us,” Bahar added.
Group chief Riad Asmat also said that he is delighted to see that the team will be able to create its own history.
“We are proud of what we have achieved by bringing the Team Lotus name back to Formula One when many tried and although we are sad to say goodbye to Team Lotus we are excited about owning our own future and being in control of our own destiny. Now we have
no one to be compared to. We make our own history and we will remain green and yellow,” Asmat said.
Virgin is another team that has changed its name to Marussia F1 starting from 2012.
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