*sigh* Lotus are not splitting into 2.
Group Lotus *read as Dany Bahar* want into F1 under their own name - not happy that Tony Fernandes has done it using a license that was agreed before he arrived.
He's now turned up and has promptly started to alienate all of the people who used to buy Lotus cars and wants to be UK's Ferrari. So the Indy Car, GT4, Le Mans and god knows what other racing projects they've started - all using Team Lotus history as an advert and an explanation - which they don't and have never owned.
Tony Fernandes on the other hand, once told that he wouldn't be allowed to use the Lotus Racing name after this year, went and bought Team Lotus Ventures from David Hunt *brother of WDC James Hunt* and announced that they were changing their team name to Team Lotus for 2011
Group Lotus denied that they could do that as they owned Team Lotus - strange, as they have on their own web site that Team Lotus was owned by other people in the mid 90's
http://www.lotuscars.com/en/1990s said:
Team Lotus became owned by a new management consortium led by Peter Wright and Peter Collins, the latter having been a former team manager with both Benetton and Williams. Team drivers were Julian Bailey and Mika Hakkinen, with Johnny Herbert retained as official test driver.
and also forbade them from making any reference to Team Lotus in the original agreement as they did not own the trademark.
That argument is going to the high court to be settled - hopefully in Tony's direction - Hunt offered the trademarks to Group Lotus and they turned him down, then when it looked like Tony may be doing a good job they cancelled his deal and tried negotiating again with Hunt, who told them that they have had their chance.
But anyway, Renault seem to want to get out of F1 car production and just retain the engine capacity - So the 25% stake that Renault holds in the F1 team will go to Group Lotus and the team will be sponsored by Group Lotus - So it will be a Lotus Renault - Will still be majority owned by Genii Capital Partners - who hold the remaining 75%
The instigator in all this is Bahar, who seems to not understand what Lotus is. He's just interested in making it Ferrari - and imo will bankrupt Group Lotus while doing it.
The more interesting possible output of all this is that Fernandes takes over Group Lotus like he did with Air Asia - for the first time Team and Group Lotus will be under the same ownership and I think that Tony is the man to be able to do it. Look at how he handled Air Asia.
I still think that
this sums it up nice and accurately.