Team Lotus Name Returns to F1 in 2011

The first major announcement expected to be made by Lotus in the eve of the Singapore Grand Prix has finally gone out. Starting from 2011, Lotus F1 Racing team will be known as Team Lotus after team boss Tony Fernandes and Kamarudin Meranun's Tune Group has acquired Team Lotus Ventures Ltd – formerly led by David Hunt – therefore gaining the ownership of the historic rights of Team Lotus brand and heritage.

“Kamarudin, Nasa and I are absolutely delighted to have completed this transaction - It’s difficult to express just what it means to us to now be able to say we are Team Lotus, one of the most iconic names in any form of sport worldwide, but we have been working very hard to make this dream come true, and today it has,” said team principal Tony Fernandes during a media event in Singapore.

“We are very excited about now taking over the brand and after our first year in Formula One, we believe we are ready to do justice to the legacy we have inherited. These are heady days for Team Lotus, and it will be a very exciting process for the team we have in place to help us achieve our goals, on and off track,” added the Malaysian official.

David Hunt also expressed his enthusiasm over getting to see the Team Lotus name back into Formula One, after a decade and a half of absence.

“In January 1995, when I had the simply awful task of making the loyal Team Lotus personnel redundant, I promised them, the fans and the media that somehow we would return Team Lotus to F1 in good order and properly funded,” said Hunt.

“I am confident I am handing over to a team who have the financial resources, passion, energy, vision and long-term commitment to give Team Lotus the best possible chance of returning to the sharp end of the grid. I look forward to assisting the team towards scoring Team Lotus’ 80th Grand Prix win,” added the former head of Team Lotus.