- 18 Jun 13, 19:07#363001ESPNF1:
Genii Capital has sold 35% of its stake in Lotus to Infinity Racing but retains control of the team.
Infinity Racing is an investment consortium made up of private investors including 'an American hedge fund manager, an Abu Dhabi-based multinational business group and royal family interests of a major oil producing nation'. The team has been without a title sponsor so far this season and Genii Capital co-founder Gerard Lopez - who remains team chairman - believes the new part-owners will help increase its sponsorship options.
"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."
Genii CEO Eric Lux said he believes the co-ownership is the start of an "exciting journey" for the team.
"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," he said. "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."
Infinity Racing chairman Mansoor Ijaz and vice chairman Suhail Al Dhaheri said Infinity is "honoured" to become part of the team.
"Gerard Lopez, Eric Lux and the entire Genii Capital team are building Lotus F1 Team to make it a serious competitor at every race and a winner on a par with the top racing teams in Formula One. 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 Formula One.
"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 Formula One today."
After scoring only three points in Monaco and Canada, Lotus is currently in fourth place in the constructors' championship with Kimi Raikkonen third in the drivers' standings.
Some much needed cash coming in...
Le coeur a ses raisons que la raison ne connaît point. 
