Renault completes Lotus F1 takeover

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After Renault has formally confirmed its return to Formula 1 as a fully fledged constructor earlier this month, Renault has now put the finishing touches of its takeover of the Lotus F1 Team in court today.

An insolvency petition was was dismissed and Renault’s lawyers told an insolvency judge, “We have the keys, so to speak,” via the BBC.

Renault has formally laid out its process in a release out Monday:

On Friday 18 December 2015, Groupe Renault and Gravity Motorsport S.a.rl, an affiliate of Genii Capital SA, formally and successfully completed the acquisition by Groupe Renault of a controlling shareholding of Lotus F1 Team Limited.

The new team name, full management structure, team partners and other details will be announced during an event to be held in Paris in February.

In the interim, a new board of directors has been appointed, with Jérôme Stoll as Chairman and Cyril Abiteboul as Managing Director.

Following the signing of a letter of intent by Groupe Renault and Gravity Motorsport S.a.rl on 28 September 2015, the parties entered into the various agreements on 3 December 2015. Since then, all parties involved have been working relentlessly to comply with all of the contractual and legal obligations under the agreements to enable the transaction to successfully complete. The technical teams are making good progress to have the 2016 car ready for testing in Barcelona at the end of February.

So it means that Renault’s process of coming into F1 is now complete, and can go ahead continuing to focus on preparation for its 2016 chassis and power unit more than anything in the legal arena.

Pastor Maldonado and Jolyon Palmer will drive for the team in 2016.

Xtreme Outlaw Midget Series triples to 34 races in 2023

Xtreme Outlaw Midget 2023
Xtreme Outlaw Series
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After hosting 10 rounds in 2022, the Xtreme Outlaw Midget Series 2023 schedule will more than triple to 34 races. The 2022 season featured seven different winners in the first seven races, a female racer in Jade Avedisian as the only repeat winner and Zach Daum as the champion.

“Dirt Midget racing is a growing entity in American motorsports, and the Xtreme Outlaw Midget Series presented by Toyota is proud to drive further into the growth of the division with both a diverse and lucrative schedule for 2023,” newly appointed Series Director Tyler Bachman said in a press release. “From the kickoff at our first indoor event, to each of the new tracks we’re set to visit next year, it’s a lineup we know both our teams and fans will enjoy.”

The championship purse fund has also more than double with an increase of $42,000 to $80,000 in 2023. The champion will win $25,000. Last year, Daum pocketed $10,000.

In addition, the series will offer tow money to the top 12 in points. Six drivers attempted to qualify for all 10 races in 2022 with 89 drivers attending.

The series will begin on March 10 at Southern Illinois Center in Du Quoin, Ill. and end the same place it did in 2022 at I-44 Riverside Speedway in Oklahoma City on October 15.

During the season, they will visit 21 tracks in 10 states.

Some highlights of the season include the Xtreme Outlaw Midget Series pairing up with the World of Outlaws Sprint Cars in 2023 at Federated Auto Parts Raceway at I-55 in Pevely, Mo. in April for the Outlaw Showdown and again in August for the Ironman 55 weekend, as well as the creation of a five-day Midget Speedweek.

The Midget Speedweek will immediately follow the Ironman 55 with a swing through Pennsylvania and New York.

Xtreme Outlaw Midget 2023 Schedule

Friday, March 10 | Southern Illinois Center | Du Quoin, Ill.
Saturday, March 11 | Southern Illinois Center | Du Quoin, Ill.
Friday, March 31 | Farmer City Raceway | Farmer City, Ill.

Saturday, April 1 | Farmer City Raceway | Farmer City, Ill.
Friday, April 14 | Federated AP Raceway at I-55 | Pevely, Mo.
Saturday, April 15 | Federated AP Raceway at I-55 | Pevely, Mo.

Friday, May 5 | Humboldt Speedway | Humboldt, Kan.
Saturday, May 6 | 81 Speedway | Park City, Kan.
Tuesday, May 23 | Millbridge Speedway | Salisbury, N.C.
Wednesday, May 24 | Millbridge Speedway | Salisbury, N.C.

Thursday, June 1 | Tri-City Speedway | Pontoon Beach, Ill.
Friday, June 2 | Wayne County Speedway | Wayne City, Ill.
Saturday, June 3 | Wayne County Speedway | Wayne City, Ill.

Friday, July 21 | TBA
Saturday, July 22 | Southern Illinois Raceway | Marion, Ill.
Friday, July 28 | TBA
Saturday, July 29 | Atomic Speedway | Chillicothe, Ohio
Sunday, July 30 | Brushcreek Motorsports Complex | Peebles, Ohio

Friday, August 4 | Federated AP Raceway at I-55 | Pevely, Mo.
Sat, August 5 | Federated AP Raceway at I-55 | Pevely, Mo.
Tuesday, August 8 | Clyde Martin Memorial Speedway | Newmanstown, Pa.
Wednesday, August 9 | Action Track USA | Kutztown, Pa.
Thursday, August 10 | Linda’s Speedway | Jonestown, Pa.
Friday, August 11 | TBA
Saturday, August 12 | Bridgeport Motorsports Park | Swedesboro, N.J.
Friday, August 25 | Davenport Speedway | Davenport, Iowa
Saturday, August 26 | Davenport Speedway | Davenport, Iowa

Friday, September 1 | Paragon Speedway | Paragon, Ind.
Saturday, September 2 | Paragon Speedway | Paragon, Ind.
Friday, September 15 | Jacksonville Speedway | Jacksonville, Ill.
Saturday, September 16 | Red Hill Raceway | Sumner, Ill.

Friday, October 13 | Port City Raceway | Tulsa, Okla.
Saturday, October 14 | I-44 Riverside Speedway | Oklahoma City, Okla.
Sunday, October 15 | I-44 Riverside Speedway | Oklahoma City, Okla.

* Co-sanctioned with POWRi