Lotus to Ink Petrobras Deal?

Petrobras' one-year sabbatical from Formula One seems to have been enough for them, as several recent reports show that the Brazilian oil company is considering a return to the series. However, they will not make a comeback as sponsors of Bruno Senna or some other Brazilian driver out there – as initially projected – but as partners of a Formula One team.

The lucky organization seems to be newly entrant Lotus F1 Team who, according to UOL Esporte, is very close to inking a deal with Petrobras. The aforementioned source quoted an employer of the Brazilian company as saying that a potential deal is still “under consideration”, but hinted that it may be reached in the next few weeks.

Nevertheless, even if Petrobras do sign a deal with Lotus, it would be highly improbable for the Brazilian oil giant to develop a competitive fuel & lubricant for the Malaysian backed team in 2010.

Another Brazilian publication that tends to issue some well-informed reports, O Globo, suggested that the deal could bring Lotus between $5M and $9M. While negotiations are still under way, it is expected that the Petrobras logo will be added to the Lotus T127 green livery from as early as the Spanish Grand Prix, the race that starts off the European season of F1 in May.

Petrobras' previous commitment in the Great Circus happened between the years 1999 and 2008, when they've partnered Frank Williams team. At the end of 2008, Petrobras signed a deal with Honda, but as the Japanese manufacturer decided to leave the series, the Brazilian company also opted for a sit-off for the 2009 season (rather than stick to their deal with newly formed Brawn GP).

Only days before the official start of the 2010 Formula One season, Lotus announced the signing of a major multi-year sponsorship deal with world's leading news network CNN.