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F1: Lotus Sells 35 Percent Stake To US-Funded Consortium

Lotus has named a new United States-backed investor in the team...

Adam Cooper | http://www.speedtv.com | Posted June 18, 2013 Balen (BEL)

Lotus F1 co-owner Gerard Lopez is excited about the team's new partner. (Photo: LAT Photographic)

After months of rumors, Lotus F1 has finally revealed a new investor in the form of a partly US-backed consortium called Infinity Racing, which has acquired a 35 percent stake in the team.

Lotus has consistently posted major losses since the team was offloaded by Renault, and was clearly in need of some extra funding.

Lotus says that Infinity Racing is “an investment consortium whose special purpose vehicle is comprised of private investors that include an American hedge fund manager, an Abu Dhabi-based multinational business group and royal family interests of a major oil producing nation.”

Genii Capital retains the remaining 65 percent, and Gerard Lopez continues as chairman.

Lopez said: “Infinity Racing’s principals have exceptional expertise and a proven strong track record in developing and delivering high-quality technologies. This partnership will enable us to increase Lotus F1 Team’s competitive advantage related to KERS technology as it becomes more central to Formula One’s push for environmentally-sound racing, while also making Lotus F1 Team more marketable as a brand, opening up additional major sponsorship opportunities.”

Genii CEO Eric Lux said: “Since Genii Capital took over control in December 2009, we have been focused on growing the value of the organization and developing the infrastructure at its Enstone headquarters. As Lotus F1 Team, results have continued to improve every year. We have been waiting for the right investor who will help make the jump to the top spot in the constructors’ championship.

“In Infinity Racing, we have found a partner with the right connections in addition to technological expertise and a global reach in major markets with key sponsors to achieve this goal. We look forward to working with Infinity Racing as we continue on this exciting journey.”

Adam Cooper notched up his 28th season as a racing journalist in 2012. He has written about F1 for SPEED.com since 2005. Follow him on Twitter.