Lotus name to return to Formula 1?

Lotus is the latest name to enter the frame to buy the troubled Prost Grand Prix team

Lotus name to return to Formula 1?

David Hunt, the brother of late world champion James, owns the Team Lotus name and has linked up with private equity house Candover Investments to bid for the team. Two other consortiums - the Canadian-based Vector Group and media group Bertelsmann CLT - are also in the running. Vector has already secured an option to buy the French team.

Hunt said: "It has always been my intention to bring Team Lotus back to Formula 1, and it remains my intention. Team Lotus is currently talking to a number of F1 teams with a view to getting back into Formula 1."

One possible complication, according to Autosport magazine, is a legal wrangle over who actually owns the name. Hunt bought Team Lotus after it pulled out of F1 at the end of 1994, but the Lotus Group was sold to General Motors, who have since sold it to Malaysian manufacturer Proton.

Now, however, the family of the Lotus founder Colin Chapman is claiming that the sale of Team Lotus to Hunt ignored their own first refusal clause.

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