In 2009, when the FIA announced an intention to invite entries for a budget-limited championship in 2010, Litespeed acquired the right to submit an entry under the historic name Lotus Cars. This compromise proposal would involve the supply of parts and design knowledge to the new entrants, but not full customer cars, in return for which the budget cap idea was dropped.įollowing the 1994 collapse – but before the end of that season – the rights to the name Team Lotus were purchased by David Hunt, brother of former F1 champion James Hunt.
The existing F1 teams, under the FOTA organisation, are understood to have agreed a system of technical support to assist new teams. The FIA announced its intention to open up the grid, aiming for a total of 13 teams, and in July 2009 selected three new teams from 15 new applicants, as well as confirming the entry of all 10 existing teams. The team's name was eventually changed to " Caterham F1 Team" at the end of 2011, it also competed under the Caterham brand in conjunction with the Caterham Racing Junior Team which competed in the GP2 Series. Team Lotus, although forming part of the group, continued to compete under the Lotus name for the 2011 Formula One season. The Caterham Group was set up after Fernandes purchased British sportscar manufacturer Caterham Cars. After having that licence terminated for further seasons, the team bought the historic Team Lotus brand in the 2011 season. The team gained its entry after the withdrawal of the BMW team in 2009.
It was run by a company called the 1Malaysia F1 Team Sdn Bhd then. The team was set up by a group of Malaysian businessmen led by Tony Fernandes using a licence from Lotus Cars owner Proton, for the use of the Lotus name in Formula One. The team scored no championship points in the two years it competed. Team Lotus, originally Lotus Racing, was a Malaysian-licensed Formula One racing team and constructor, based in Hingham, Norfolk, UK, which competed during the 20 Formula One seasons. For the 2012–2015 team sponsored by Lotus Cars, see Lotus F1. For the team which competed in 1995 as Pacific Team Lotus, see Pacific Racing.
For the original 1954–1994 motorsport team, see Team Lotus. This article is about the Formula One team which competed as Lotus Racing in 2010 and Team Lotus in 2011.
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