There is only one word to describe Lotus in motorsport. Legendary. The plucky British firm that took on the world and won time after time is a globally recognized icon. Their return to Formula One was fantastic for the sport and even better for nostalgia was the fact that they brought back the famous black and gold livery. Today, however, we hear that Group Lotus has pulled its sponsorship from the Formula One team.
Group Lotus has been sold along with parent company Proton and as a result the sports car manufacturer has stopped funding the F1 team. The original plan was for Lotus to purchase 50% of the team but this will no longer happen. Genni capital who own the team have said they are happy to fill the financial gap and have also been rumored to be looking into buying Group Lotus themselves. The F1 team will retain the Lotus name.