Lotus sells stake in team to investment group
Lotus F1 Team has new part-owners as of today, with Infinity Racing Partners Limited (Infinity Racing) acquiring a 35% minority stake in the team. Infinity Racing joins Genii Capital, who retain a controlling stake in the team, with Gerard Lopez continuing as Chairman.
Infinity Racing is an investment consortium whose special purpose vehicle is comprised of private investors that include an American hedge fund manager, an Abu Dhabi-based multinational business group and royal family interests of a major oil producing nation.
Lotus F1 Team was previously 100% owned by an investment vehicle of Genii Capital – a global investment management and financial advisory firm headquartered in Luxembourg – which retains a controlling stake of 65% in the team.
Gerard Lopez, co-founder of Genii Capital, will remain Chairman of Lotus F1 Team. Eric Lux, CEO of Genii Capital, will continue his role on the team’s Board of Directors.
Gerard Lopez, Chairman, Lotus F1 Team:
“Infinity Racing’s principals have exceptional expertise and a proven strong track record in developing and delivering high quality technologies. This partnership will enable us to increase Lotus F1 Team’s competitive advantage related to KERS technology as it becomes more central to Formula 1’s push for environmentally sound racing, while also making Lotus F1 Team more marketable as a brand, opening up additional major sponsorship opportunities.”
Mansoor Ijaz, Chairman and Suhail Al Dhaheri, Vice Chairman, Infinity Racing:
“Gerard Lopez, Eric Lux and the entire Genii Capital team are building Lotus F1 Team to make it a serious competitor at every race and a winner on a par with the top racing teams in Formula 1. The recent developments at Enstone and results of the Team’s high-quality drivers are testament to this. Patrick Louis, Chief Executive, and Eric Boullier, Team Principal, are continuing the time-honored traditions of Lotus F1 Team and have re-established the Team as a competitive force in Formula 1. We are honored to be part of the Team’s forward march to the No.1 ranking and proud of the team spirit, down-to-earth nature and performance-oriented results that characterize the experts at Enstone, who endeavor to make Lotus F1 Team a title challenger in Formula 1 today.”
Eric Lux, CEO, Genii Capital:
“Genii Capital is delighted to announce this partnership between Infinity Racing and Lotus F1 Team as we continue to grow and compete for podium places. Since Genii Capital took over control in December 2009, we have been focused on growing the value of the organization and developing the infrastructure at its Enstone headquarters. As Lotus F1 Team results have continued to improve every year, we have been waiting for the right investor who will help make the jump to the top spot in the Constructors’ Championship. In Infinity Racing, we have found a partner with the right connections in addition to technological expertise and a global reach in major markets with key sponsors to achieve this goal. We look forward to working with Infinity Racing as we continue on this exciting journey.”