Lotus sells minority stake to Russian company

Lotus F1 Team

27 January 2014 by TF1T Staff
          

Lotus have sold a minority stake in the team to Russia's Yota Devices, according to a company spokesperson.

YotaPhone, a subsidiary of the company, was seen on the front-wing endplates of the E22 teased by Lotus on Twitter last week.

Company spokesperson Kirill Lubnin told Autosport that it wasn't just a sponsor deal, but in fact they had taken ownership of a small stake.

"It is not a sponsorship, we have bought a stake," he said.

"It is also important to underline that it was not our company which made the deal but our owners."

It isn't clear what per cent Yota Devices has bought, but it's believed to be between eight and 10 per cent.