Pacific Grand Prix Team Lotus
For Immediate Release: 6 Feb 1995
Pacific Grand Prix and Team Lotus Join Forces
Formidable new alliance aims for Grand Prix success
Team Lotus, one of the most prestigious names in Grand Prix motor racing, is to remain in Formula One following an agreement between the boards of directors of Pacific Grand Prix Ltd and Team Lotus Grand Prix Ltd. The result is the creation of Pacific Team Lotus, and the development of a major new force in Formula One.
Following the announcement by Team Lotus Grand Prix Ltd on 17 January that its involvement in Formula One was in danger of being curtailed, the extensive negotiations which already existed between the two companies were accelerated, and an exciting alliance has been created for the future.
Pacific Grand Prix, one of the newest and most dynamic teams in Formula One, competed in the World Championship for the first time in 1994, and is the only team competing at this level to have won every major single seat racing championship on the European motor racing ladder, including British, European and World Formula Ford titles, British Formula 3 and International Formula 3000. Team Lotus ranks alongside Ferrari in terms of its world-wide fame, having competed in Formula One since 1958, acheiving no fewer than 79 Grand Prix victories, 7 Constructors and 6 Drivers World titles, and 107 pole positions.
This strategic partnership between one of the youngest and most modern teams, and one of the most prestigious and established, will create a formidable organisation. The arrangement menas tat Team Lotus's contractual commitments to sponsors and technical partners can be honoured, while its historic base at Ketteringham Hall will be maintained.
Pacific Team Lotus will operate out od the Pacific Grand Prix headquarters in Thetford, Norfolk, and all technical departments will continue to be based there. A pair of Pacific-Ford PR02 cars will compete in the World Championship under the Pacific Team Lotus banner. Due to the geographical proximity of Pacific Grand PRix and Team Lotus there were already some links between the teams, and a number of former Team Lotus staff are now working at Pacific.
"This is a major strategic partnership with Pacific, aimed at re-establishing the Team Lotus name in Formula One and an important step in our plans to create fresh success for it," said David Hunt, Managing Director of Team Lotus Grand Prix Ltd. "We had a large number of offers from various parties concerning the future of Team Lotus, but there is no doubt in my mind that Pacific Grand Prix is a team for the future, and so we decided to pursue an alliance. Pacific's track record and credentials are impeccable and by joining our resources with the excellent package which Pacific has already developed for 1995, we have given Team Lotus the chance to generate new successes. Pacific Grand Prix has an exciting new car, a newly created technical structure and a modern management style, whilst we can bring prestige, technical facilities and add to their commercial package."
Speaking on the behalf of Pacfic Grand Prix, Managing Director Keith Wiggins expressed his delight at the alliance.
"At Pacific we have been approaching the 1995 Formula One World Championship with great confidence, and have a competitive package in place. However, the recent news concerning Team Lotus created an opportunity because the all-new management team led by David Hunt has a clear desire to bring the Team Lotus name back to a position of competitiveness in Formula One. We felt that joining Pacific with one of the most famous names in Formula One we would greatly enhance our profile, and ensure a positive future for the Team Lotus name. This arrangement is very exciting, not only for us but for Formula One in general, and I am confident that Pacific Team Lotus can achieve great success."
-- Alan F. Perry Internet Lotus Cars Mailing List email@example.com