Jun 18, 2013, 11:40 AM EDT
Lotus F1 Team had been wholly owned by Genii Capital, but on Tuesday the Enstone-based squad announced a sale of 35 percent stake of the team to a new investor group called Infinity Racing Partners Limited.
Noting the spelling, this Infinity is not at all related to Infiniti, the car manufacturer that sponsors Red Bull. Infinity is, according to the Formula One official website, an investment consortium comprised of private investors from America, Abu Dhabi and royal family interests of an unnamed oil producing nation.
Lotus’ two top management members will retain their positions. Lotus F1 chairman Gerard Lopez will continue in that role and Eric Lux, CEO of Genii, will sit on the team’s Board of Directors.
“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,” said Lux.
“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.”
It’s been a slight year of upheaval at Lotus. Earlier this year, the team’s technical director James Allison quit the team, but Kimi Raikkonen said shortly thereafter he thought they could weather the storm.
- Cooler heads prevail as IndyCar drivers test at Texas (VIDEO) 0
- Jeff Gordon has bad news for his rivals: He’s thinking of racing for 10 more years 2
- NASCAR’s birthplace, the Streamline Hotel in Daytona Beach, to get significant makeover 0
- IndyCar remix: Toyota Grand Prix of Long Beach (VIDEO) 0
- Ten with Townsend: Long Beach Debrief 2
More from NASCAR America
- IndyCar: Massive crash triggered after round of pit stops (VIDEO) (17)
- American-based F1 franchise, Haas Formula, officially introduced (9)
- Andretti drivers say GP of Long Beach should stay with IndyCar (7)
- Kurt Busch won’t soon forget Clint Bowyer’s race-ruining shove at Darlington (VIDEO) (6)
- Dale Earnhardt Jr. and Jimmie Johnson do it old school style in a pair of classic pickup trucks (VIDEOS) (5)