Battle of Numbers Between Team Lotus and Group Lotus
The deadline of March 21 and the proper trial is fast approaching. After words, Team Lotus and Group Lotus are attacking each other with numbers. Thus, Tony Fernandes would ask between 35 and 60 million dollars to completely give up the Lotus name, which is refused by Proton.
The deadline of March 21 and the formal trial is quickly approaching. After the words, Team Lotus and Group Lotus are now battling with figures. Thus, Tony Fernandes is reportedly asking for between 35 and 60 million dollars to completely abandon the Lotus name, which Proton refuses.
Thus, the owner of Lotus Cars issued a statement in which he declared: «1MRT cannot now ask us to compensate them for a situation in which they found themselves due to their own fault.» He still leaves the door open for new negotiations: «If reasonable and justified proposals are made, an amicable resolution can still be found.»
Such a statement could not go unanswered from Team Lotus, which is never stingy with press releases: « The Proton statement contains a number of points designed to paint a very negative picture of the shareholders and founders of 1MRT and to obscure the truth before the trial between 1MRT and Group Lotus in London, starting on March 21.
Moreover, the former Lotus Racing team states that the amount of money mentioned above mostly concerns the compensation for the loss of FOM rights due to the outcome of the 2010 season: if the team had to completely abandon the Lotus name, it would no longer have the right to collect the revenues related to the tenth place in the 2010 Constructors’ Championship, which could nearly bankrupt them.
But, above all, 1MRT wishes to clarify that the substance of the trial is based on the illegal termination of the contract concerning the license to use the name Lotus Racing and the legitimate ownership of Team Lotus Ventures and the use of the name Team Lotus in Formula 1. It is therefore Tony Fernandes who accuses Proton of breaking the exclusivity agreement that bound them when the five-year license was granted for the use of the name Lotus Racing.
Given the content of the statements from both parties, one can say that there is a strong likelihood they will go to trial, as their positions seem far apart from each other.
With the participation of RacingBusiness.fr
