2005 Lotus Elise - 19.6k Miles - Mint on 2040-cars

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Renault paid GBP1 to buy back its F1 team

Running a Formula One team is anything but cheap and straightforward, but it didn't cost Renault much to reacquire the Lotus team from Genii Capital. In fact, according to the latest reports, the French automaker paid just GBP1 – less than a buck fifty – for the privilege. Still, the process was deeply complicated. The reason Renault was able to get it so cheap is because the team was deeply in debt, part of which Renault will now assume. Less than a year ago, the team was said to be nearly $200 million in the red, and just a few months ago Renault came to its rescue to pay a $4 million tax bill to the British government. Under the terms of the new deal, Renault will assume the debt that the team's previous owners had accrued, but will be spared the nearly $150 million which its stakeholders loaned to the team. The history of the outfit based in Enstone dates back to 1981 when it was founded as Toleman Motorsport. French fashion giant Benetton bought the team in 1985, which in turn sold it to Renault in 2000. A decade later, after two world championship titles, Renault began stepping back its involvement in the team and gradually transferred ownership to investment firm Genii Capital, which has run it ever since under the Lotus name that it secured from the automaker under contract until 2017. Unable to fund a competitive team, Genii has now sold the team back to Renault, but the financial intricacies of the deal are far from straightforward. To start with, Genii and its subsidiary Gravity Motorsports (the team's parent company) didn't hold all the shares in the operation, so it bought back over 6 million shares from Whiterock Alliance to add to its own 60 million shares. The vast majority of those shares were then transferred (for that princely sum of GBP1) to Gringy (UK) Ltd, the shell company that technically owned the team in its Benetton days. Gringy (a wholly owned subsidiary of Renault) will hold a 90-percent stake in the team, with the last 10 percent remaining in Genii's hands and those of its investors. In the process, the outfit will now rejoin the likes of Ferrari and Mercedes among the F1 teams developing their own powertrains. Related Video: News Source: Motorsport.comImage Credit: Dimitar Dilkoff/AFP/Getty Earnings/Financials Motorsports Lotus Renault F1 genii capital

Lotus adds lightness to new Exige S Club Racer

If there are two things Lotus is good at, they're trimming weight off already lightweight cars and getting the most out of its existing products. And those are just the talents it's called on to roll out the new Exige S Club Racer. Based on the Exige that's been on the market since 2000 – itself based on the Elise that dates back to 1996 – the new Exige S Club Racer manages to cut an extra 33 pounds off the vehicle's already featherlike curb weight, now down to under 2,600 lbs. The weight reduction comes down largely to the lightweight battery, center console, doors and sports seats. Yet measured at 100 miles per hour, the coupe also produces 93 lbs of extra downforce thanks to the revised aero package that includes a new front splitter, rear wing and flat underbody. Joining the Elise 20th Anniversary Edition (which itself replaces the Elise S Club Racer), the new Lotus Exige S Club Racer packs a 3.5-liter V6 to run to 62 in four seconds flat and on to a top speed of 170 mph. That's some rather impressive performance for a vehicle that only costs GBP56,900 in the UK, which is about what you'd pay for a Porsche Cayman GTS over there that would cost us around $75k. Unfortunately, Lotus doesn't sell the Exige in the US anymore, so this is one further improvement on a model we'll just have to admire from across the ocean. NEW LOTUS EXIGE S CLUB RACER - FASTER AND LIGHTER - Club Racer ethos applied to searingly quick Exige S - Weight reduced by 15 kg - Lotus benchmarks for handling and pure driving experience Applying the Lotus refined Club Racer principles to the already stunning Exige S results in the most inspiring version of an already class-leading sports car. The Exige S is a model that already excels, thanks to its lightweight aluminium chassis-tub and aerodynamically enhanced composite bodywork. Its 3.5-litre supercharged V6 engine delivers exciting performance, benchmark handling and a pure driving experience combined with a 4.0 seconds 0-62mph (0-100km/h) acceleration time and a top speed of 274 km/h (170 mph). Jean-Marc Gales, CEO of Group Lotus plc, expressed his enthusiasm for the new model: "Factoring the Club Racer ethos into the Exige enhances the track-focussed potential of this important model.

Lotus 3-Eleven may be the quickest track weapon you can buy

Germany's Sport Auto magazine routinely takes world-beating supercars around the short circuit at the Hockenheimring: Porsches, Ferraris, Lamborghinis... the works. But the top of the leaderboard has now been claimed by something altogether smaller and less powerful in the form of the new Lotus 3-Eleven. The most extreme expression of the Elise/Exige platform to date, the 3-Eleven is a track-focused machine of the highest caliber. At its heart sits a relatively humble 3.5-liter supercharged V6, tuned to produce 460 horsepower. But with composite body panels and a low curb weight, it rockets to 60 in under 3.0 seconds flat, and more poignantly laps the company's own test track ten seconds ahead of the Evora 400. Now it's clocked a lap around Hockenheim – sometimes host of the German Grand Prix – in just 1:06.2, just edging out the previous record held by a Porsche 918 Spyder. It also bests the Gumpert Apollo, and the similarly track-focused Radical SR3 SL... not to mention everything else Sport Auto has ever taken to the track. What's even more impressive is that the magazine's road test editor Christian Gebhardt completed the lap on stock rubber and on a cold track that didn't get any warmer than 46 degrees Fahrenheit. Just imagine what it'd do on even semi-slicks and a warm track surface. Related Video: 'HYPERCAR-KILLING' LOTUS 3-ELEVEN SETS HOCKENHEIMRING LAP RECORD - Lotus 3-Eleven raises the bar by establishing a new "sport auto" production car lap record around Hockenheimring - Lotus 3-Eleven now heads the lap time list which features exotic hyper cars and track-focused supercars from some of the world's most prestigious manufacturers - Lap record set by "sport auto" magazine's top road tester Christian Gebhardt The Lotus 3-Eleven, the quickest series production car to come from Lotus' Hethel Headquarters, has set the fastest lap time ever recorded by the leading and highly-respected German car magazine, "sport auto". Driven by Christian Gebhardt, a highly accomplished driver and Road Test Editor for "sport auto", the Lotus 3-Eleven lapped the Hockenheimring short Circuit in an incredible 1 minute 06.2 seconds. This time was even more impressive considering that the 3-Eleven was on standard road tyres and the fastest lap was completed in less than perfect weather, where temperatures did not get higher than 8 degrees Celsius. Jean-Marc Gales, CEO of Group Lotus plc said, "Christian set a fabulous lap in less than ideal conditions.