Formula 1 News

Lotus sells 35% stake in team

Infinity Racing Partners Limited became the new shareholder. Gerard Lopez will continue as the Team's Chairman.
Tuesday, June 18, 2013

June 18th, 2013 (F1plus).- Lotus F1 Team has been one of the most active teams in recent years; they have not hesitated in making bold designs or bringing a popular yet controversial figures such as Kimi Rakikkonen, but also in business where they have done remarkably well in the branding and marketing of its brand.

To keep the trend, today the team announced the selling of a 35% stake to Infitiny Racing Partners.

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.

Lotus F1 Team was previously 100% owned by the investment firm of Genii Capital –(headquartered in Luxembourg) which retains a controlling stake of 65% in the team.

Gerard Lopez, co-founder of Genii Capital, will remain Chairman of Lotus F1 Team. Eric Lux, CEO of Genii Capital, will continue his role on the team’s Board of Directors.

"Infinity Racing's principals have exceptional expertise and a proven strong track record in developing and delivering high quality technologies," Lopez said.

"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." He added.

Mansoor Ijaz and Suhail Al Dhaheri, chairman and vice chairman of Infinity Racing, also shared their excitement at becoming part of Lotus

“Gerard Lopez, Eric Lux and the entire Genii Capital team are building Lotus F1 Team to make it a serious competitor at every race and a winner on a par with the top racing teams in Formula 1.” they said.

“We are honored to be part of the Team's forward march to the No.1 ranking and proud of the team spirit, down-to-earth nature and performance-oriented results that characterize the experts at Enstone, who endeavor to make Lotus F1 Team a title challenger in Formula 1 today.” They added in a statement.
 

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