Lotus sells minority stake to Russian company


Lotus F1 Team
27 January 2014 by TF1T Staff | M
          

Lotus have sold a minority stake in the team to Russia's Yota Devices, according to a company spokesperson.

YotaPhone, a subsidiary of the company, was seen on the front-wing endplates of the E22 teased by Lotus on Twitter last week.

Company spokesperson Kirill Lubnin told Autosport that it wasn't just a sponsor deal, but in fact they had taken ownership of a small stake.

"It is not a sponsorship, we have bought a stake," he said.

"It is also important to underline that it was not our company which made the deal but our owners."

It isn't clear what per cent Yota Devices has bought, but it's believed to be between eight and 10 per cent.

LATEST FORMULA 1 NEWS

caterham

Lotterer: I can push my LMP1 harder in the corners

marussia

Chilton: 'More to the story than being reported'

belgian gp | fp2

FP2: Hamilton opens up a lead in Belgian practice

STATISTICS

Stats: Power unit component usage after eleven races

belgian gp | fp1

FP1: Rosberg pips Hamilton to Belgian top spot

marussia

Chilton will race for Marussia in Belgium after all