Monza, Italy: The Lotus team is set to give up its name and allow Renault to be-renamed using the Team Lotus title next year after Lotus owner and team chief Tony Fernandes told reporters on Monday that a deal was likely.
In an interview with Autosport he said: "I always had a problem with 'am I really Team Lotus?'
"I always said that era was theirs. We're just bringing it back under new ownership. It was up to the fans whether they liked us or not," said Fernandes, who also owns English premier league club Queens Park Rangers.