Lotus owner Genii Capital sells 35 per cent stake to Infinity Racing
|By Jonathan Noble||Tuesday, June 18th 2013, 14:35 GMT|
Lotus owner Genii Capital has sold a 35 per cent stake in the team to new investor Infinity Racing.
After a long-running effort to find suitable partners, Genii boss Gerard Lopez has agreed that the Infinity Racing group - made up of private investors from America, Abu Dhabi and an unidentified oil producing nation - will take a minority shareholding.
Lopez will remain chairman of the Lotus team, with Eric Lux, who is CEO of Genii Capital, continuing on the team's board of directors.
Speaking about the move, Lux said: "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."