Genii Capital sells 35% of Lotus

By on Tuesday, June 18, 2013

Lotus F1 Team

Lotus owners Genii Capital has sold a 35% stake in the team to Infinity Racing.

Gerard Lopez will continue as chairman as Genii Capital retains a controlling stake in the team.

Infinity Racing is made up of investors from America, Abu Dhabi and the royal family of an unnamed nation.

"Infinity Racing’s principals have exceptional expertise and a proven strong track record in developing and delivering high quality technologies," said Lopez.

"This partnership will enable us to increase our 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."

Genii Capital CEO Eric Luz added "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."

If you liked this post then share it with your friends on social media websites. You can also follow us on Facebook and Twitter to stay up to date with the latest F1 news.