The future of Lotus in Formula 1 looks secure after investment group Quantum Motorsports said its deal to buy a 35 percent stake in the team was complete.
Head of the Quantum Motorsports consortium Mansoor Ijaz said that his company had now completed its side of the contract and now require final approval from team owner Genii Capital.
It intends to buy its initial stake through a new share issue by majority owner Genii, which brought began its partnership with Lotus in 2010.
“There is no question that the deal is definitely happening,” Mr Ijaz told motor racing publication Autosport.
“I will even go out as far as to say that it has now been completed from our side in terms of what has to be done.”
He added there is the possible option of taking over the entire running of the team in the future, in the event Genii scaled down its involvement.
“We have options – I won’t go into the details of those options – but the options do allow us in a fixed amount of time to take control of the team later on,” he said.
The Manufacturer has two upcoming events taking at Lotus F1 HQ in Enstone, Oxfordshire on Tuesday 10th December. The first based around the effective use of ERP, will start at 9am, while a second about utilising CRM will proceed at midday. For further information about the ERP event, please visit: https://www.themanufacturer.com/eventsite/lotus-f1-technical-site-visit-am/ Alternatively for the CRM event, please visit: https://www.themanufacturer.com/eventsite/lotus-f1-technical-site-visit-pm/