Lotus says Renault deal not vital for survival

Lotus insists that its future in Formula 1 is secure, even if Renault does not give final approval to a takeover deal of the outfit.

Renault's senior management is set to make an imminent decision on whether or not to push on with plans to resurrect its works effort through buying a majority stake in Lotus.

Until that decision is made, Lotus is in a financial holding pattern, with its current owners holding back on investment in the outfit until it knows what the future is.

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Recent issues with Pirelli's late payment in Hungary and the bailiffs in Belgium has left some questioning whether or not the team will be able to see out the campaign, but its bosses are convinced it is safe.

Lotus CEO Matthew Carter was clear that even if the Renault plan does not come off, there are other options that would help the team survive.

"We have had financial, issues, and the financial issues are all over the press, but we are working as hard as we can behind the scenes," he said at Monza.

"None of them have become terminal, and we are still here and still racing. We will continue to do that.

"The negotiations (with Renault) are going on behind the scenes, but we have more than one option going forward to secure the future of the team.

"And as far as the remainder of the races this season, we have a budget and we will operate to that budget."

Awaiting Renault news

Carter said that although negotiations with Renault had been going on for a while, there was still no confirmation from the French car manufacturer about its intention.

"It is difficult for me to say too much," he said. "My job is to run the team and look after the team as it stands.

"The ownership and shareholding is down to current shareholders and potential future shareholders.

"Negotiations with a certain car manufacturer have been ongoing for a number of months and as far as I am aware we are trying to run the team with the tools we have got."

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About this article
Series Formula 1
Teams Lotus F1 Team
Article type Breaking news