Renault completes the purchase of Lotus - Finally

After months of back-and-forth, Renault have finally completed their takeover of the Lotus Formula 1 team.

The French car manufacturer's lawyers heard the good news from a British High Court judge at a hearing on Monday.

"We have a completion of the share purchase," confirmed a lawyer from Renault on Reuters.

"We have the keys, so to speak. The insolvency procedure has worked in the way intended."

The purchase of the team paves the way for Renault to enter Formula One in 2016 as a constructor in place of Lotus, as opposed to just an engine supplier.

Renault supplied Red Bull and Toro Rosso with engines for the 2015 season.

Alain Prost, who was heavily involved in the negotiations for the takeover as an ambassador for Renault, touched on the difficulty of finalising the deal.

"It was a long decision because of what happened you know, the relationship with Red Bull and the fight that being only a supplier was not the right choice for the future," the four-time world champion told motorsport.com.

"So it was quite a big commitment. You need to understand that they had to take their time to decide what to do. We all know in this company maybe it takes time, but when they are committed, it is going to be okay."

and the purchase is complete

84FSP wrote: Renault supplied Red Bull and Toro Rosso with engines for the 2015 season.

Um...?

Why um? It's true. They supplied Red Bull and Red Bull Jr with lots and lots of engines

Toro Rosso gets Ferrari power for 2016.

Sooo... Renault has a F1 "team" instead of just being an "engine supplier". Ok.

It's a big deal. It means they have to build the chassis. They're now considered a constructor.

Big happenings in F1 land! Psyched to see what Haas F1 has up their sleeve as well.

Keith Tanner wrote: Why um? It's true. They supplied Red Bull and Red Bull Jr with lots and lots of engines Toro Rosso gets Ferrari power for 2016.

I was under the impression that "Red Bull" was what people called Rosso Toro when they didn't want to look hoity-toity.

OTOH, my sum total of F1 contact is when I read about it here on occasion.

Wow, that gives all S1 Europas credibility....not.

84FSP wrote: Big happenings in F1 land! Psyched to see what Haas F1 has up their sleeve as well.

Yes and maybe now we can have a year without one completely dominant team and one mostly dominant driver within that team.

Knurled wrote:

Keith Tanner wrote: Why um? It's true. They supplied Red Bull and Red Bull Jr with lots and lots of engines Toro Rosso gets Ferrari power for 2016.

I was under the impression that "Red Bull" was what people called Rosso Toro when they didn't want to look hoity-toity. OTOH, my sum total of F1 contact is when I read about it here on occasion.

Technically, Red Bull and Toro Rosso are two different teams. They each have their own chassis - but you can guess who the principal sponsor of Toro Rosso is. They're the junior Red Bull team.

I am curious. "Alain Prost was heavily involved in the negotiations." Does the 4 time champ have a business degree or other experience that would make him suitable for this situation? I'm sure he has input that could help a race team, but not so much on the business/financial side of things. Simply put, a car manufacturer bought into, or purchased a race team. Apart from dollars put up, how much actual negotiation could there be?

ncjay wrote: I am curious. "Alain Prost was heavily involved in the negotiations." Does the 4 time champ have a business degree or other experience that would make him suitable for this situation? I'm sure he has input that could help a race team, but not so much on the business/financial side of things. Simply put, a car manufacturer bought into, or purchased a race team. Apart from dollars put up, how much actual negotiation could there be?

Good questions and I don't know either but I suspect at that level there is likely many deals going on at many different levels. Just like in politics it's who knows who, who has the most money and so on. Alain Prost surely has many contacts in F1 and he may have some pull. Anyway, I am just speculating but most outsiders (me, you, us) have no idea how complicated (crazy/insane!) it all potentially is.