Genii is 100% owner of Lotus Renault GP

The launch of the R31 by Lotus Renault GP was an opportunity to discover, in addition to the new livery of the Enstone team, which new sponsors were making their appearance. We can notice that Genii has decided to promote itself much more than last year by monopolizing the radiators, one of the most prominent locations on a Formula 1 car. This is undoubtedly the result of the fact that the Luxembourg investment fund is now the sole master on board as the 100% owner of the team.

Lotus Cars has therefore not taken a stake in the team, as was announced during the name change announcement of the team: “For Genii Capital and Lotus Renault GP, the 2011 season will be one of realization. We are now 100% owners of the team and we approach this championship with the intention of continuing to do things our way, but always with humility. I would like to welcome the arrival of Lotus Cars, a new ambitious title sponsor committed to us for the long term.” The British manufacturer is therefore only a title sponsor, similar to what Virgin has chosen to do with the team officially named Manor Grand Prix. If Renault’s name still appears within the team, it is due to its continuation as an engine supplier. But most importantly, it allows them not to lose the television rights related to the 2010 season.

For Gérard Lopez, the president of Genii, these television rights are the very reason for the legal battle taking place with the team that wants to be called Team Lotus in 2011: “I am aware of the decisions that have been made and I know that money is the central cause and not passion. It’s not about wanting to take over the Lotus name; it’s a fact that if 1Malaysia wants to change its name, they lose the FOM money. And yes, it’s a problem for them, and it’s likely I wouldn’t take it well if I were in their shoes, and of course, I would fight. But they have to acknowledge reality, and the fact is that it’s about money and nothing else.”

He takes the opportunity to remind that he has the official support of the manufacturer as well as the Chapman family (who were also part of the team at the beginning of the 2010 season when the Lotus name returned in the form of Lotus Racing): “The Chapman family appreciates what we are doing. Not because we are better or worse or anything like that, but because in the end, we are not claiming any link or heritage of Chapman within the team. It’s completely different.”

On the other hand, if we look at the other brands present on the car, we can see that there aren’t many new additions, or even some disappearances. For instance, HP, which proudly stood last year alongside the Diamond on the engine cover, has disappeared. Lada retained a prominent spot due to Vitaly Petrov remaining as a main driver, while the Renault name is still clearly visible, though less prominent than last year. The only new additions are SunCore (a technology provider in mobile telecommunications) and Sibur (the largest petrochemical company in Russia), but the team decided not to issue specific statements to celebrate these new partners.

With the participation of: RacingBusiness.fr