The transformation of Lotus F1 into a Renault Works team is not officially under way with the French manufacturer having signed a letter of intent.
The announcement comes after Lotus secured a top 10 finish at Suzuka for both of their drivers, though it appears Romain Grosjean will move to Haas F1 for 2016.
This has been a rather tumultuous season for Lotus, who despite having an excellent Mercedes power unit at their disposal, haven’t managed to secure more than 60 points in the Constructors Standings, remaining within striking distance of Toro Rosso who could actually push them from 6th to 7th place.
Renault will undoubtedly look to change the team’s fortunes with fans showing their support for the return of such a big name in motorsports. The full letter of intent reads as follows:
“Renault Group and Gravity Motorsports S.a.r.l., an affiliate of Genii Capital S.A., are pleased to announce the signature of a Letter of Intent regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd.
The signature of this Letter of Intent marks Renault’s first step towards the project of a Renault Formula 1 team from the 2016 racing season thereby extending 38 years of commitment of the brand to world’s premier motorsport championship series.
Renault Group and Gravity will work together in the coming weeks to eventually turn this initial undertaking into a definitive transaction provided all terms and conditions are met between them and other interested parties.”
It will be interesting to see who’s going to be Renault’s star driver next year if Grosjean switches teams.
Even if the French manufacturer somehow knocks it out of the park with the power unit (hard to believe) during their first season back, it’s still all for nothing if you don’t have world class drivers racing for you.
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