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SBD Global/February 21, 2014/Marketing and Sponsorship

Lotus F1 Team Agrees To Engine Deal With Renault Through 2018

The Lotus F1 team has "sealed a new contract to continue with Renault engines" for the next five years, according to Andrew Benson of the BBC. The announcement "was timed to coincide with the first public appearance" of the car at the second preseason test after missing the first test in Spain. The two parties said they had signed a deal "for 2014 and beyond." The contract reportedly lasts until '18, which "underlines both parties' commitment to F1 despite Lotus's recent cash-flow problems" (BBC, 2/20). REUTERS' Alan Baldwin reported Lotus, the former Renault-owned team, "had financial problems last season and were the last to announce officially their engine supplier." Renault "are also supplying power units" to champions Red Bull, sister team Toro Rosso and Malaysian-owned Caterham. Mercedes and Ferrari "are the sport's other engine makers" (REUTERS, 2/20). The PA's Ian Parkes reported Lotus' off-track difficulties, with the departure of key staff and its ongoing financial woes, "played a part in the delay." However, Renault has "endured a troubled start to preseason, most notably encountering a number of issues with two of their other teams" (PA, 2/20).
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