Apr.12 (GMM) Proton, the Malaysian carmaker, has an option to buy 10 per cent of the F1 team that bears the name of its sports car marque Lotus.

Rumours about Group Lotus' health ramped up this week after it emerged that its title sponsorship of the Genii-owned Lotus team has been "terminated".

Group Lotus responded angrily to the subsequent speculation, albeit admitting it is grappling with "problems".

The Proton-owned carmaker pointed the finger at Caterham's Tony Fernandes, who was previously at the centre of a bitter F1 naming dispute with Lotus.

And also blamed for pedalling the rumours was Joe Saward, a British journalist who is also a Caterham director.

"And unlike some, we don't want to get too personal, so we'll leave it to you to judge how 'independent' his stories about Lotus are," Group Lotus said in a media statement.

The truth, Lotus claims, is that Proton has loaned Genii $47 million, with the Enstone based team's assets used as collateral.

"In addition Proton retains the rights to purchase 10 per cent of the F1 team," said Group Lotus. "Another 10pc share option will be activated if the team default on their loan obligations with Proton."

Latest F1 News - Mobile version

26 Feb: New Ferrari not quickest in field - Domenicali 26 Feb: Red Bull still best in 2013 - Tost 26 Feb: 2014 French grand prix 'possible' - Prost 26 Feb: Danica Patrick 'not interested' in F1 switch 26 Feb: Report - Gilles Simon working on F1 engine for Honda 26 Feb: Gutierrez plays down link to Carlos Slim 26 Feb: Caterham exhaust 'legal' insists van der Garde 26 Feb: McLaren replaces Mercedes-bound Lowe 25 Feb: 'Engine maps' trouble for Red Bull, Lotus - report 25 Feb: Mercedes-bound Lowe to miss 2013 opener - report 25 Feb: Mercedes 'in group of teams' behind Red Bull - Lauda 25 Feb: Gutierrez expects Hulkenberg to beat him early in 2013 25 Feb: New Ferrari 'much better' than 2012 - Massa 25 Feb: Teams 'will adapt' to new tyre situation - Gutierrez 25 Feb: Tight rules make today's F1 cars 'the same' - Forghieri 25 Feb: Williams removes controversial exhaust trick 25 Feb: Contract 'conflicts' cause of Marussia test snub - Razia 25 Feb: Lotus to fight Red Bull for title - Gutierrez 25 Feb: Marussia 'ahead of Caterham' - Chilton 25 Feb: Sutil will not stay in F1 as test driver The latest F1 News - Mobile Version

F1 News  F1 Schedule  F1 Line-up  Constructors' Championship  Drivers' Championship  F1 Tickets  Live F1 Coverage

Full Version: Formula 1 News  Formula 1 Schedule  Formula 1 Line-up  Constructors' Championship  Drivers' Championship  Live F1 Coverage  10 'n' Pole  F1 Regulations  The Forums  Motorsport Shop  F1 Merchandise  F1 Tickets  F1 Diecast  F1 Videos  F1 Games