Group Lotus will no longer sponsor the formula one team that bears its name.

But – as F1′s perpetually bizarre ‘Lotus’ saga takes another twist – the Enstone based team, formerly Renault, will continue to be known as Lotus in the coming years.

Last year, and in 2010, ‘Lotus’ was the name of the team that is now called Caterham, but a bitter dispute soured that relationship as the Proton-owned car company Group Lotus ended the naming license and made its own bid to enter F1.

Group Lotus’ new foray blossomed in 2012 with Renault’s renaming to Lotus, amid speculation team owner Genii was keen to get more involved with the iconic sports car marque.

When asked recently about his team’s relationship with Lotus, Kimi Raikkonen answered clumsily on the Top Gear motoring programme: “Well it’s, er, it (the car) is not a Renault. Lotus is just a sponsor.”

The Autosport website revealed on Good Friday that the sponsorship deal has been “terminated”.

However, “We are happy to carry the Lotus name as we believe it is a good name for F1,” explained team owner Genii’s Gerard Lopez.

“So Lotus are still Lotus despite no longer being sponsored by Lotus?” the Telegraph’s Tom Cary wittily surmised on Twitter.

And in yet another twist, Lopez refused to rule out a scenario in which Genii actually takes over Group Lotus.

“We don’t know yet, because we really do not know what the new owner wants to do with it,” he said.

Ferrari’s high profile new recruit Neil Martin will not travel to grands prix in 2011.
The information emerged from the Madonna di Campiglio ski resort as team sponsor Marlboro’s annual ‘Wrooom’ media event jointly staged with Ducati started in earnest.

200 members of the specialist media are reporting from the scene in the Italian Dolomites this week, where the details of Ferrari’s revamped team structure for 2011 will be made clearer.

Martin, a 38-year-old Briton who was a chief strategist at Red Bull, is heading the team’s new operations research department, so is expected to stay at Maranello when the race team travels to races.

Australian Chris Dyer, whose new “redefined” role will also be clarified this week, has lost his job as head of race track engineering after calling the strategy that cost Fernando Alonso the 2010 drivers’ title.

Martin is to head the remote operations unit where a dozen engineers will work and analyse decisions away from the noise and stress of the pitlane and feed their conclusions to the pitwall, the news agency Sapa reported based on information from Italian media sources.

Virgin will announce officially on Thursday morning that it has sold a major stake in the new British F1 team to Russian supercar maker Marussia.

The announcement will take place at the plush Yas Marina Hotel, which straddles the formula one circuit.

Virgin confirmed that announcements about the team’s “plans for 2011″ are scheduled for Thursday at 11.30 local time.

The news follows reports earlier this week that team sponsor Marussia, headed by racing driver and Russian Top Gear presenter Nikolai Fomenko, is buying into the team.

Fomenko confirmed to state owned news agency Ria Novosti that Marussia Motors has acquired a “significant stake” in Virgin Racing.

“Now we can state with full certainty that we have our team in formula one,” he said.

“Of course, it was not an easy decision for us. I’m not entitled to disclose the contract value, but it’s big money, believe me.”

The contract was reportedly signed in London last Saturday, with the team to be called ‘Marussia Virgin Racing’ and the 2011 car to be launched in Moscow early next year.

Marussia co-investor Andrey Cheglakov said the marque wants to keep ‘Virgin’ in its F1 name “to gain better recognition for the team itself”.

A report in the Financial Times said Marussia is buying out the team stake previously held by Lloyds Banking Group.

In 2010, Renault rookie Vitaly Petrov became the first Russian driver in F1, and a deal for a Russian grand prix near Sochi in 2014 was signed.

Fomenko said he would be interested in signing Petrov in the future.

“Today I am unable to provide him with a competitive car. And he needs to continue his career in a fast car. Just wait for one more season,” he said.

One of Williams’ major sponsors has revealed it is leaving the British team at the end of the season.

The Royal Bank of Scotland (RBS) is also leaving Grove based Williams after next Sunday’s Abu Dhabi grand prix, and it is rumoured that AirAsia and McGregor are set to follow suit.

And a Dutch media report said Philips, the Dutch electronics multinational, has decided not to renew its contract beyond 2010.

Presently, Philips – a team sponsor for five years – has significant branding on the rear wing of the FW32, so the news is a big blow to the independent team.

“We have been pleased with our partnership with Williams,” said Patrick Overwijk, Philips’ global sponsorship manager.

“The reason we are stopping the sponsorship has nothing to do with Williams,” he told formule1.nl.

“Philips has decided to withdraw from formula one in order to pursue a different kind of sponsorship,” he explained.

Williams has been contacted for comment.

Jun.14 (GMM) Team sponsor Sir Richard Branson said during his visit to the Canadian grand prix that a new scheme demonstrates Virgin’s “commitment to focusing upon the environmental impact of formula one”.

He said a deal struck with Canadian-based company Carbon Green to recycle tyres “is the first truly green and highly relevant deal in the history of the sport”.

Elaborating, the British billionaire explained: “Old tyres used by Timo Glock, Lucas di Grassi and co will be recycled into useful products.”

But an astute fan asked Bridgestone’s F1 press officer Andy Stobart via Twitter if Branson’s comments were true, given that the tyre supplier usually takes back its products from the teams at the end of a race weekend or test.

Stobart confirmed that the tyres “definitely come back to us” because of the “confidential technology”.

However, he added that Bridgestone’s old tyres are “used for fuel, a positive contribution to energy recovery”.

HRT is interested in moving into Toyota’s F1 headquarters in Cologne, and is also eyeing the departed Japanese teams’ 2010 car, according to reports.

Spain’s sports newspaper Marca said the Spanish team’s owner Jose Ramon Carabante has already visited the German site on two occasions.

Italiaracing, meanwhile, reports that the Hispania team is also interested in taking over Toyota’s unraced 2010 chassis, the TF110.

The news follows HRT’s confirmation that it has split with its existing chassis maker Dallara.

But the move to buy the Cologne facility would be at odds with HRT’s earlier plans to set up a long-term base in the Spanish region of Murcia, a team sponsor.

The reports could therefore trigger speculation that Carabante is looking to sell the team, even though on Thursday HRT revealed the identity of its new board.

“This shows how (the team) is strongly trying to keep on growing day by day in order to develop to a more strong, lasting and competitive team in formula one,” read a statement.

(GMM)

Apr.26 (GMM)  During an event for Spanish team sponsor Santander on Monday, it was announced that Fernando Alonso’s thumbs have been insured.

The bank said the Ferrari driver’s life as well as his thumbs – presumably to safeguard his ability to confidently greet his fans at grands prix with positivity – have been insured to the tune of 10 million euros.

More pertinently, he said he is happy with his start to the 2010 season, as he trails championship leader Jenson Button by 11 points.

“I wasn’t happy with things on Sunday night in Shanghai, but now, with a cool head, I can be really satisfied,” said Alonso, 28, at the event near Madrid.

“We didn’t always gain what we could have according to our potential, but we’re fighting for the title and this is what counts more than anything else,” added the Spaniard, who said that in 2008 and 2009 with Renault he “knew” he would not win those titles.