Lotus Group

Lotus Group (also known as the Group Lotus).
== History ==
The Lotus name returned to Formula One for the 2010 season, when a new Malaysian team called Lotus Racing was awarded an entry. The new team used the Lotus name under licence from Group Lotus and was unrelated to the original Team Lotus. In September 2010 Group Lotus, with agreement from its parent company Proton, terminated the licence for future seasons as a result of what it called "flagrant and persistent breaches of the licence by the team". Lotus Racing then announced that it had acquired Team Lotus Ventures Ltd, the company led by David Hunt, and with it full ownership of the rights to the "Team Lotus" brand and heritage. The team confirmed that it would be known as Team Lotus from 2011 onwards.
In December 2010, Group Lotus announced the creation of Lotus Renault GP, the successor to the Renault F1 team. This team contested the 2011 season having purchased a title sponsorship deal with the team, with the option to buy shares in the future. The team's car for that season, the R31, was badged as a Renault, while Team Lotus's car, the T128, was badged as a Lotus. In May 2011, the British High Court of Justice ruled that Team Lotus could continue to use the "Team Lotus" name, but Group Lotus had sole right to use the "Lotus" name on its own.
As a consequence, for 2012 Lotus Renault GP was rebranded as Lotus F1 Team and its cars were badged as Lotuses, while Team Lotus was renamed Caterham F1 Team (after the sports car manufacturer owned by team principal Tony Fernandes) and its cars were badged as Caterham.
After two races had been driven, Genii and the Lotus Group ended their collaboration in April 2012. The Lotus Group, which had not met its payment obligations for several months, gave up its position as main sponsor with immediate effect due to financial difficulties. Genii waived payment of the outstanding sponsorship money and in return received permission to continue racing the team under the name Lotus.
Category:Sponsors