Infinity Racing Partners has acquired a 35 per cent minority stake in Lotus F1 Team effective immediately.
The acquisition marks another milestone for Lotus F1 Team in its quest to become the leading outfit in Formula 1 racing. The team finished fifth in the 2011 Constructors’ Championship and fourth in 2012.
Infinity Racing is an investment consortium whose special purpose vehicle is comprised of private investors that include an American hedge fund manager, an Abu Dhabi-based multinational business group and royal family interests of a major oil producing nation.
Lotus F1 Team was previously 100 per cent 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 per cent in the team. Gerard Lopez, co-founder of Genii Capital, will remain chairman of Lotus F1 Team. Eric Lux, chief executive of Genii Capital, will continue his role on the team’s board of directors.
Lopez says: “Infinity Racing 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 KERS technology as it becomes more central to Formula 1’s push for environmentally sound racing, while also making the Team more marketable as a brand, opening up additional major sponsorship opportunities.”
Mansoor Ijaz, chairman and Suhail Al Dhaheri, vice chairman of Infinity Racing, say: “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 number one 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.”
Lux adds: “Genii Capital is delighted to announce this partnership between Infinity Racing and Lotus F1 Team as we continue to grow the team and compete for podium places. Since Genii Capital took over control of the team in December 2009, we have been focused on growing the value of the organisation and developing the infrastructure at its Enstone headquarters. As Lotus F1 Team’s results have continued to improve every year, we have been waiting for the right investor to partner with in the team, which would 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.”
