Rumours that F1 team owner Genii is contemplating buying the Group Lotus sports car company are continuing to gain steam.

That is despite Genii’s Gerard Lopez confirming recently that the Enstone based team has ended its sponsorship deal with the carmaker, even though the team will continue to carry the Lotus name.

But subsequent media reports indicate that the newly Malaysian conglomerate DRB-Hicom owned Group Lotus is for sale.

“Genii … is thought to be interested, and its boss, Gerard Lopez, is said to have had talks with Hicom, but also with (Group Lotus chief) Mr (Dany) Bahar about a possible management buyout,” read a report in the Independent newspaper.

Bahar is not ruling out the transaction.

“Whatever happens will happen,” he told the local Norfolk publication edp24.co.uk.

“Genii has expressed interest and if there is a good deal to be done, why should they not be interested? I think it would just make sense.”

Tony Fernandes on Friday admitted he would like Group Lotus, the Proton-owned maker of British sports cars, to be involved with his formula one team.

But in reality, Lotus Racing – Fernandes’ entirely separate Malaysian-owned outfit – and Norfolk based Group Lotus, seem to be moving even further apart.

Group Lotus is reportedly retracting the license for the Lotus Racing moniker, meaning Fernandes has had to buy the separate and historic Team Lotus name in order to continue to be called Lotus in formula one.

At the same time, the Malaysian airline millionaire admitted he was surprised when he learned that Group Lotus is getting involved in GP2 next year with the top team ART.

Asked pointedly in Singapore if there is a link between Lotus Racing and Group Lotus’ new motor racing plans, he answered: “No.”

Fernandes admitted that, when originally founded by Colin Chapman in the 50s, Group Lotus and Team Lotus were entirely cooperative.

“Of course they cooperated and of course we would like to cooperate but if Group Lotus doesn’t want to then there’s not much we can do about it,” he said.

“The door is always open,” continued Fernandes. “It makes sense if they did.

“If I was sitting there and there was a formula one team going around the world with 20 races, promoting a brand, if I was the CEO, I would definitely want to get involved, especially if I’m not putting any money in it,” he added.