Lotus sells 35 percent stake to investor
18 June 2013 – The Lotus F1 Team has sold a minority 35 percent stake to Infinity Racing Partners Limited (Infinity Racing), a consortium made up of private investors including an American hedge fund manager, a multinational business group based in Abu Dhabi, United Arab Emirates, and royal family interests of a major oil producing nation.
Genii Capital, who had owned 100 percent of the team, retain a controlling stake of 65 percent, with Gerard Lopez continuing as the Enstone-based outfit's Chairman, while Eric Lux, CEO of Genii Capital, is to keep his role on the Board of Directors.
"Infinity Racing’s principals have exceptional expertise and a proven strong track record in developing and delivering high quality technologies," explained Lopez.
He added: "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."