Lotus set to become Team Lotus in 2011

Lotus have announced on Friday that the team will be known as Team Lotus from 2011. Lotus team principal Tony Fernandes and Kamarudin Meranun’s Tune Group have acquired Team Lotus Ventures Ltd, the company led by David Hunt since Team Lotus was last on track.

“We 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 Fernandes.

“My thanks go to David for looking after the Team Lotus brand so well over the period of his stewardship, and keeping the integrity of Team Lotus together. 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.

“It was always important to us that Lotus Racing and Team Lotus could be brought together to unite the past and the present, and now we have done so. We have enjoyed a successful first year as Lotus Racing, and our thanks go to Proton, Group Lotus and all our partners for the parts they have played in our year as Lotus Racing.