The Lotus Formula 1 team has managed to wipe just over £56 million [$84.5m] from its debts for 2014.Following a protracted period of negotiations and due diligence regarding Renault's takeover, with principal contracts finally signed last week, the team is finally due to submit its 2014 accounts to Companies House...

Lotus is confident of avoiding a return UK High Court date with HMRC as it closes in on resolving its future in Formula 1.The team was forced into the High Court on Monday as a result of failing to pay one month's PAYE (income tax and national insurance) to HMRC,...

Romain Grosjean said a hydraulic leak ruled him of final Austrian Grand Prix qualifying and cost him a chance to put the Lotus Formula 1 team in the top five.The problem struck on Grosjean's out-lap in Q3 and left him in 10th place, although he will gain one position due...

The Lotus Formula 1 team will field Jolyon Palmer in first practice sessions at the next five grands prix as part of its ongoing commitment to the GP2 champion.Palmer has already been behind the wheel of the E23 in practice one at three races to date in China, Bahrain and...

The Lotus Formula 1 team's talks with potential investors Quantum Motorsports are still ongoing, despite reports this week that the deal was totally dead. Quantum, which is led by Mansoor Ijaz, had hoped to conclude a buy into the Enstone outfit late last year but the money never arrived in...