Litespeed & Lotus Group in F1 Squabble

As previously reported in this blog, British F3 team Litespeed have submitted an entry for the 2010 FIA F1 World Championship.

Should their F1 bid be successful, they have been given permission by the rights holder to use the Team Lotus name, resurrecting it for the first time since 1994.

Could be a return of the famous racing green and yellow livery.

Following this announcement by Litespeed, the Lotus Group have issued the following statement......

"Group Lotus PLC and its subsidiary Lotus Cars Limited, the manufacturer of the legendary Lotus Elise and global high technology engineering consultancy, are not connected or affiliated to, nor in any other way associated with the newly-announced ‘Team Lotus’ that has submitted an entry 2010 Formula 1 championship,” ........ “Group Lotus PLC will take all necessary steps to protect its name, reputation and brand image.”

Both sides may be being a bit premature considering the fact that the FIA has not yet confirmed the winning bidders for the 2010 grid.

Lotus Group could be missing a trick here.

If Litespeed/Team Lotus do win a spot on the grid for 2010 and it is a well run outfit, as it should be with the likes of Mike Gascoigne on board, the Lotus Group will indirectly benefit from massive worldwide television exposure equivalent to millions of pounds of marketing spend.