Lotus Racing Ends Partnership with Cosworth

Lotus Racing F1 has come up with two valuable pieces of information for its fans this past weekend, during the Italian Grand Prix. First off, it seems that team boss Tony Fernandes has decided to revive the Team Lotus name in Formula One by purchasing the rights to use this designation from David Hunt (who had made it his back in 1994).

However, this move will not happen for the current season, but for the upcoming campaign, when the Malaysian-backed team is likely to partner a new engine supplier as well. Wanting to make the next step towards F1 stardom, Lotus Racing's boss hinted that a deal with French engine manufacturer Renault is only days away from finalizing.

And although there have been plenty of rumors suggesting Lotus and Renault might join forces for the 2011 F1 season, the first true confirmation came this weekend, shortly after the Sunday race at Monza. Lotus F1's current engine supplier, British company Cosworth, announced the two parties have reached an agreement in principle to end their collaboration at the end of the 2010 season.

Cosworth has reached an agreement in principle with Lotus Racing whereby the team's Cosworth engine supply agreement will come to a conclusion at the end of the current Formula 1 season,” said a statement from Cosworth on Sunday.

This agreement is subject to contract and until the agreement is signed, neither party will be making any further comment,” added the statement.

Lotus Racing F1 and Cosworth have partnered for a single year since the Lotus name was revived in the series (in 2010 only). If the move to Renault is completed – and we tend to bet on it – this means the British engine manufacturer will keep only 3 partners in the championship: Williams F1, Virgin Racing and Hispania Racing F1 Team.

On the other hand, Renault would become engine supplier for 3 teams in 2011, adding Lotus Racing to their current programmes with Renault F1 Team and Red Bull Racing.
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