Genii sells 35% share of Lotus F1 Team to consortium of private investors 18 June, 2013 Lotus F1 mechanic wipes clean the team logo The Lotus Formula 1 team announced on Tuesday that a consortium of private investors, including an American hedge fund manager and an Abu Dhabi-based multinational business group, had acquired a 35 percent stake in the team. The British-based team said in a statement that Infinity Racing Partners Limited had joined Luxembourg-based Genii Capital, who retain the remaining 65 percent through an investment vehicle, as shareholders. Genii’s head Gerard Lopez will continue as chairman of what was formerly the championship-winning Renault team before it changed its name. The statement said that Infinity Racing also included “royal family interests of a major oil producing nation” among its investors. It named Mansoor Ijaz as chairman, with Suhail Al Dhaheri as vice-chairman. “Infinity Racing’s principals have exceptional expertise and a proven strong track record in developing and delivering high quality technologies,” Lopez said. “This partnership will enable us to increase Lotus F1 Team’s competitive advantage related to KERS technology as it becomes more central to Formula One’s push for environmentally sound racing, while also making Lotus F1 Team more marketable as a brand, opening up additional major sponsorship opportunities.” Lotus have Finland’s 2007 world champion Kimi Raikkonen and Frenchman Romain Grosjean as their drivers this season, with Raikkonen winning the season-opening race in Australia and currently third overall in the driver’s championship. Lotus F1 Team Full Lotus F1 Team Statement: 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 Formula1 Team to make it a serious competitor at every race and a winner on a par with the top racing teams in F1. 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-honoured traditions of Lotus F1 Team and have re-established the Team as a competitive force in F1. We are honoured 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 characterise the experts at Enstone, who endeavour to make Lotus F1 Team a title challenger in F1 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 organisation 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.” (Lotus & Reuters) Subbed by AJN. Related NewsLotus: A boost before going into summer breakGrosjean: I leave the door open to any nice optionLotus: Not a great day for usLotus: There’s more potential in the carMaldonado would welcome JPS back at LotusGrosjean: I want to win races and soonLotus give hint of intent to keep GrosjeanGrosjean admits Formula 1 future uncertainLotus: We struggled to get a good balance on the carLotus: It’s clear that we lack pace hillside just bring Renault and Flavio back together. Junior Johnson How wonderful.This news makes me so happy.i wonder if this is legal although because now infinity owns 3 teams.They own red bull wich owns Toro Roso and now they own Lotus too.Maybe they will buy Maclaren next.We here that Maclaren is almost bankrup jeff Junior johnson this is real food for thought Hawk @jeff if you took JJ seriously I am worried for you. Sunshine117 Iv’e heard a rumour that there will be a VW team come in to F1 in 2015…Can any one shed some light on this? Complete bull crap or is it true?