Lotus buys Renault F1 stake to create Lotus Renault team

Group Lotus will officially return to Formula One next year after it bought Renault's last remaining shares in the team which bore the French company's name at the end of last season.

The new team will now be called Lotus Renault after the French manufacturer sold its 25 percent stake to the team's overall owners, Genii Capital, which then sold the shares on to the Malaysian-owned Group Lotus.