Lotus F1 To Race At Italian Grand Prix After Bailiffs Release Team’s Cars, Trucks

Lotus will be at the Italian Grand Prix after bailiffs released the "cash-strapped" F1 team's cars and trucks to travel to Monza, according to Kevin Eason of the LONDON TIMES.

Fears "were growing that Lotus would be frozen by bailiffs acting for Charles Pic, a disgruntled former test driver claiming his contract was not fulfilled." Renault is looking to "ditch its role as engine supplier to Red Bull to revert to a factory team." Its choice appears to be Lotus, the team it sold to Genii Capital, a private equity business, five years ago. So far, there is "no progress in the negotiations" that would result in Renault acquiring a controlling 65% of the team for an estimated $99.5M. But, "unless there is progress soon, the money seems as though it will run out." London Times.

In London, Daniel Johnson reported Renault has "grown weary" of its public spats with Red Bull and wants to "return to being a fully-fledged factory team to boost their profile."

The current proposal is for Renault to acquire a 65% stake at a cost of $99M from Genii Capital, the current owners. In Hungary, Pirelli refused to release its tires to Lotus until just before first practice because it was late paying a $382,500 bill. Telegraph.

MOTORSPORT's Jonathan Noble reported Lotus "eased concerns about its short-term future" after confirming its trucks were "en route to Monza." The "uncertainty about where Lotus is heading in the long term is delivering headaches for it in the short term," however, as the Enstone-based team's owners have put a hold on investment. The situation has meant development work has "all but stopped, a number of bills have gone unpaid and it has been unable to shore up longer-term financial commitments that would generate much-needed cash flow." Motorsport

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