Lotus has dismissed the suggestion that it could be taken over by Renault, with CEO Matthew Carter insisting the team is not for sale.

With the French firm said to be becoming increasingly disillusioned with its role as engine supplier to Red Bull and Toro Rosso following a high profile war of words in light of its struggles to bring its current V6 hybrid power unit up to speed, it has already revealed it is considering its future in the sport.

Options include withdrawing from F1 altogether, joining forces with a team to create a collaboration similar to BMW-Sauber or take over an existing team altogether.

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The latter option has duly brought the likes of Toro Rosso, Force India, Sauber and Lotus into the spotlight as potential candidates for a take-over.

However, Lotus, which evolved from the previous Renault manufacturer team before it turned its focus to engine supplier, has ruled itself out of the running

"I know that Renault are evaluating their role within F1 at the moment," Carter told Reuters. "I think they are from a fairly high level trying to decide whether they just make engines, whether they pull out of the sport altogether or whether they look at a works team. My shareholders have said quite specifically the team isn't for sale."

Toro Rosso is considered to be the preferred option for Renault should it attempt a takeover, though it would be dependent on getting the go-ahead from Red Bull.

After Renault sold its final stake in the former full manufacturer team in 2011, Lotus has operated under that guise ever since, retaining an engine supply from the French firm until 2015 when it switched to Mercedes power.