Renault: Lotus announcement “very likely” next week

© Getty Images
0 Comments

Renault Formula 1 chief Cyril Abiteboul has said that the French manufacturer expects to make an announcement regarding its pending takeover of Lotus next week.

Renault has been engaged in negotiations with Lotus over a takeover of the team for many months, and signed a letter of intent back in September confirming its plans to revive a works F1 operation at Enstone.

Although a deal is still yet to be formally agreed and announced, Renault employees have already started working at Lotus to lay the foundations for 2016.

It was speculated that Renault may announce its takeover of Lotus during the Abu Dhabi Grand Prix weekend, but Abiteboul confirmed on Friday that nothing would be made official at Yas Marina.

The Frenchman remained coy when asked what exactly Renault’s involvement in F1 would entail in 2016, saying: “I’m afraid I can’t answer to that question. I would like to be in a position to be able to answer to that questions, but I am not today.”

Despite there being no announcement in Abu Dhabi, Abiteboul said that he envisages one being made next week following the conclusion of the 2015 season.

“What I can say is that there will be no announcement regarding Renault’s future – short-term or middle-term future – over the weekend, but there will be an announcement, very likely, in the course of next week,” he said.

“We have always said that we would like to do that after the season. The season is ending on Sunday, around the start of December and that is what we will do stick to that plan, which is to make an announcement then.”

Abiteboul said that every effort was being made to finalize the deal with Lotus, but he is excited about the prospect of Renault returning to F1 with a works team for the first time since 2010.

“It’s fair to say that there is a process going on since the signing of the letter of interest on the 28th of September, there is a process involving a lot of people,” Abiteboul said.

“I think 50 people have been working night and day on the realisation of a possible acquisition of a majority stake in Lotus. It’s just a project, It’s been a proper rollercoaster, very exciting.”