Sep.24 (GMM/Inautonews.com) Team Lotus is yet to decide whether to change its official name for the 2012 season and beyond.
In an apparent end to the naming dispute, it was rumoured at Monza two weeks ago that Team Lotus had agreed to instead call itself Caterham, opening the door for Renault to formally adopt the name of its sponsor Group Lotus.
But a side-effect of name changes in formula one is that teams can compromise their financial entitlements under the terms of the Concorde Agreement.
Ensuring those benefits would require the unanimous agreement of all the teams — a rarity in the F1 paddock.
“I guess there is a process that we all have to go through but it is a process that we will undertake if and when the decision is made,” said Team Lotus chief executive Riad Asmat.
“It’s something that hasn’t happened yet so I can’t comment.”
He confirmed however that he has the support of the team’s shareholders.
“We are still Team Lotus as you can see but my shareholders have mentioned we are open to anything and we will see how it progresses from this point.”