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Renault has publicly confirmed its intention to purchase the Lotus F1 team after announcing it had signed a Letter of Intent.
A statement released on Monday confirmed the French car manufacturer has signed a letter declaring a “potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd”.
Renault intends to take over the team from next year and return to F1 as a full constructor.
The release of the statement today comes as Lotus returns to the High Court where it is facing a claim for £900,000 in unpaid taxes from HM Revenue and Customs.
Renault previously competed in F1 between 1977 and 1985, and again between 2002 and 2011, winning the constructors’ championship in 2005 and 2006. It pulled its backing in 2009 but the team continued to compete as Renault for two more seasons before rebranding as Lotus.

A statement released on Monday confirmed the French car manufacturer has signed a letter declaring a “potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd”.
Renault intends to take over the team from next year and return to F1 as a full constructor.
The release of the statement today comes as Lotus returns to the High Court where it is facing a claim for £900,000 in unpaid taxes from HM Revenue and Customs.
Renault previously competed in F1 between 1977 and 1985, and again between 2002 and 2011, winning the constructors’ championship in 2005 and 2006. It pulled its backing in 2009 but the team continued to compete as Renault for two more seasons before rebranding as Lotus.
