Coca-Cola sponsors Lotus with energy drink brand

(GMM) Lotus has ended a long period of speculation by announcing that Coca-Cola is entering formula one as a sponsor.

It had been rumored that McLaren could secure the deal, but in fact Lotus said Coca-Cola, the iconic soft drinks brand, will place the logo of its Swedish energy drink Burn on its 2013 car.

Like reigning world champion Red Bull's market-leading drink, Burn is a high sugar, high caffeine energy drink involved in extreme sports marketing including snowboarding, skiing and skateboarding.

"We are proud that The Coca-Cola Company has chosen Lotus as the best vehicle to represent the Burn brand in its most high profile partnership," said team boss Eric Boullier.