Formula 1: Renault Close To Buying Lotus

Renault's buy-out of Lotus is close to being sealed, the team's chief executive officer Matthew Carter says.

Renault have been in talks to buy Lotus for several months and the team's financial position has become precarious as time has dragged on without a deal.

Carter said: "Things are looking very positive. There is going to be a press release from Renault next week."

Formula 1: Lotus To Survive Season Despite Financial Crisis - Federico Gastaldi.

Lotus will survive "this season and beyond" despite financial troubles, according to their deputy principal. British-based Lotus, who hope former owners Renault will retake control, have faced numerous legal obstacles.

Last Monday, an HM Revenue and Customs application to put the team into administration was adjourned to next Friday, 18 September,  when practice for the Singapore Grand Prix starts.

"Don't believe the negative rumours you hear," said Federico Gastaldi.

FORMULA ONE: Lotus Completes First Test In New Car

The new Lotus car has completed its first test, following a troubled first pre-season test. Lotus ran their new E23 car "without any major problems" for the maximum 100km (62 miles) at Jerez on Saturday. That is a huge step forward from the first pre-season test at the same track, which Lotus did not attend, when the Renault power unit did not run cleanly in any car.

New Lotus signing Pastor Maldonado was behind the wheel of the car.
Trackside operations director Alan Permane said: "We finished our running before 4pm on Saturday, due to the mileage restrictions imposed on a promotional event.