New co-owner for Lotus team

Jun.19 (GMM) Genii has sold 35 per cent of its Enstone based formula one team Lotus to an investment consortium.

According to a press release, Infinity Racing is comprised of private investors including an American hedge fund manager, an Abu Dhabi-based business group and royal family interests of a major oil-producing nation.

Lotus said Genii Capital, formerly the 100 per cent team owner, will retain a 65pc controlling stake, with Gerard Lopez remaining chairman of the Eric Boullier-led team.

"As the team's 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," said Genii chief executive Eric Lux.