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Lotus name row officially ended

Team Lotus and Group Lotus issue joint statement ending the argument over the use of the Lotus name in F1
The row between Group Lotus, Proton and the 1Malaysia Racing Team – currently known as Team Lotus – over the rights to use the Lotus name in F1 is officially over, with both parties having agreed settlement terms earlier this month.

Group Lotus and Team Lotus boss Tony Fernandes had been at odds over the use of the Lotus name, with Fernandes granted a licence to run at Lotus Racing in 2010 before Group Lotus ended its deal with the Malaysian businessman.

Fernandes then bought the rights to the Team Lotus name from David Hunt, although Group Lotus objected to that move and there followed a legal battle in the courts to determine who held the rights to the Lotus name in F1.

With the parties agreeing terms to end the feud, and the FIA approving team name changes for 2011 that will Team Lotus rebranded as Caterham F1 Team, a joint statement confirmed that any arguments are now at an end.

Although final terms of the settlement remain confidential, the Team Lotus name will now be handed over to Group Lotus, giving it full usage of the Lotus name in F1.

“On behalf of Group Lotus and Proton I would like to express how pleased we are that this matter is finally closed and we can now focus on looking forward to the future,” Group Lotus CEO Dany Bahar said.
“We understand that this has been a very difficult and confusing time for the fans of the sport and the Lotus brand so we are glad to have reached a clear resolution on this important matter – I would like to take this opportunity to thank our fans for their continued support, it means everything to us.”
 


Riad Asmat, CEO for the 1Malaysia Racing Team, said the team would now seek to make its own history in F1 having taken the Lotus name back into the sport.

"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,” he said. “Now we have no one to be compared to. We make our own history and we will remain green and yellow.

"Now we look forward to an exciting future racing under our new team name of Caterham F1 Team. Please continue to support our very special spirit of never say die and support us on the track as we move up the field and demonstrate that the good do win."




Related Pictures

Click on relevant pic to enlarge
08.04.2011- Friday Practice 1, Nick Heidfeld (GER) Lotus Renault GP R31
26.07.2014- Free Practice 3, Valtteri Bottas (FIN) Williams F1 Team FW36
26.07.2014- Free Practice 3, Felipe Massa (BRA) Williams F1 Team FW36
26.07.2014- Free Practice 3, Pastor Maldonado (VEN) Lotus F1 Team E22 leads Marcus Ericsson (SUE) Caterham F1 Team CT-04
26.07.2014- Free Practice 3, Valtteri Bottas (FIN) Williams F1 Team FW36
26.07.2014- Free Practice 3, Felipe Massa (BRA) Williams F1 Team FW36
26.07.2014- Free Practice 3, Esteban Gutierrez (MEX), Sauber F1 Team C33
26.07.2014- Free Practice 3, Pastor Maldonado (VEN) Lotus F1 Team E22
26.07.2014- Free Practice 3, Felipe Massa (BRA) Williams F1 Team FW36
26.07.2014- Free Practice 3, Kamui Kobayashi (JAP) Caterham F1 Team CT-04
26.07.2014- Free Practice 3, Adrian Sutil (GER) Sauber F1 Team C33
26.07.2014- Free Practice 3, Valtteri Bottas (FIN) Williams F1 Team FW36
26.07.2014- Free Practice 3, Romain Grosjean (FRA) Lotus F1 Team E22
26.07.2014- Free Practice 3, Pastor Maldonado (VEN) Lotus F1 Team E22
26.07.2014- Esteban Gutierrez (MEX), Sauber F1 Team C33
26.07.2014- Marco Mattiacci (ITA) Team Principal, Scuderia Ferrari
26.07.2014- Romain Grosjean (FRA) Lotus F1 Team E22
26.07.2014- Pastor Maldonado (VEN) Lotus F1 Team E22

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RD350LC - Unregistered

November 09, 2011 4:19 PM

Sodesu, your reasoning is flawed All the examples you give are brand names owned & used by the parent companies GENII Capital are the owners of the F1 team but are branding their team & cars with the name of the title sponsor As has been the situation with Renault this season don’t own the team, but sponsor them & supply engines As Manor & Virgin have done and to a lesser extent with McLaren having Vodafone in the official team name

RD350LC - Unregistered

November 09, 2011 3:57 PM

They have no more sullied the name of LOTUS than the team that will next year be called LOTUS They should be called what they are team GENII Capital proton/lotus are just title sponsors So they won’t be LOTUS either



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