The Lotus Formula 1 team recorded a staggering loss of £57 million [$75m] for 2015, recently published accounts have revealed.The exact figure of £56.994m represents a considerable increase in the team's revealed financial loss compared to 2014, which stood at £5.75m [$7.5m].The accounts are recorded to Dec. 31, 2015, just...

Renault has signed a letter of intent with the current owners of the Lotus Formula 1 team regarding its "potential" acquisition of the squad.The French manufacturer has been locked in talks to take a 65 percent stake in the team for next year, marking its return to a full manufacturer...