Former racing driver David Hunt, brother of 1976 World Champion James, reaffirmed his intention, at last month’s British Grand Prix, to take the Lotus name back into Formula I in 1999, five years after the collapse of the once-great factory team. Hunt, who bought the Team Lotus name from receivers in 1994, said that he has a £40 million budget “agreed, but not inked,” and wanted to “end recent speculation” over who had the rights to use the name, which was subsequently associated with the short-lived Pacific Grand Prix outfit.
Lotus Racing (run by ex-Lotus Fl engineer George Howard-Chappell), which runs the marque’s GT team, had previously announced that it was considering a Grand Prix programme.
Founder Colin Chapman took Lotus into Formula 1 in 1958. It won 79 Grands Prix, all but seven before his death in 1982. Only Ferrari, McLaren and Williams have won more World Championship events.