Lotus F1 team confirmed that, Infinity Racing acquired a 35% stake in the team. But still Genii Capital retains control of the team and Gerard Lopez continuing as chairman position.
Genii CEO Eric Lux said he believes that the co-ownership is the start of an "exciting journey" for the team. Lotus F1 Team was previously 100% owned by an investment vehicle of Genii Capital – a global investment management and financial advisory firm headquartered in Luxembourg – which retains a controlling stake of 65% in the Team. Gerard Lopez, co-founder of Genii Capital, will remain Chairman of Lotus F1Team. Eric Lux, CEO of Genii Capital, will continue his role on the Team’s Board of Directors.
“Infinity Racing's principals have exceptional expertise and a proven strong track record in developing and delivering high quality technologies. This partnership will enable us to increase Lotus F1 Team's competitive advantage related to [kinetic energy recovery] technology as it becomes more central to Formula One's push for environmentally sound racing, while also making Lotus F1 Team more marketable as a brand, opening up additional major sponsorship opportunities.” Lopez said.
“Since Genii Capital took over control in December 2009, we have been focused on growing the value of the organization and developing the infrastructure at its Enstone [U.K.] headquarters,” Genii CEO Eric 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.”
Mansoor Ijaz, Chairman and Suhail Al Dhaheri, Vice Chairman of Infinity Racing said: “Gerard Lopez, Eric Lux and the entire Genii Capital team are building Lotus F1 Team to make it a serious competitor at every race and a winner on a par with the top racing teams in Formula 1. The recent developments at Enstone and results of the Team’s high-quality drivers are testament to this. Patrick Louis, Chief Executive, and Eric Boullier, Team Principal, are continuing the time-honoured traditions of Lotus F1 Team and have re-established the Team as a competitive force in Formula 1.”
“We are honoured to be part of the Team’s forward march to the No.1 ranking and proud of the team spirit, down-to-earth nature and performance-oriented results that characterise the experts at Enstone, who endeavour to make Lotus F1 Team a title challenger in Formula 1 today.” Mansoor added.
AutoWeek reveals that the three companies in the U.K.-registered Infinity consortium are Crescent Investment Management (New Jersey), Al Manhal International Group (Abu Dhabi), and Universal Sports Group (Brunei), with their shareholding split 20-20-60.
