LONDON (AP): Britain's High Court cleared Team Lotus on Friday to continue racing in Formula One under its current name, following a dispute with a rival team. The right to the Lotus name in F1 went to trial in March.
Team Lotus used it last season, claiming it legally acquired the rights from the remnants of the old team. Group Lotus, the company's road-car division, also claimed rights and is a major backer of the F1 Renault team.
The court ruled that Team Lotus is the rightful owner of the name and can continue to use the iconic badge.
"We are all pleased that it has been clarified that we are the rightful owners of Team Lotus," team owner Tony Fernandes said in a statement. "We have always been confident that the factual evidence we presented would lead to this decision and today's judgment confirms that belief."
Group Lotus can use the Lotus name on its F1 car and use the black and gold livery, but can only display the badge on its road cars. Although Group Lotus can continue to sponsor Renault in F1, it still plans to appeal the court's decision.
"There are issues which still require clarification and we remain committed to obtaining this much needed clarity for the many fans," Group Lotus head of legal Sarah Price said. "The decision to appeal has not been taken lightly."
Team Lotus announced last month that it had acquired British sports car manufacturer Caterham Cars, which specializes in making small lightweight road cars.
"We can turn our attention to ensuring success for Caterham Cars on the road and Team Lotus on track," Fernandes said. "These are two very exciting brands."
Team Lotus used it last season, claiming it legally acquired the rights from the remnants of the old team. Group Lotus, the company's road-car division, also claimed rights and is a major backer of the F1 Renault team.
The court ruled that Team Lotus is the rightful owner of the name and can continue to use the iconic badge.
"We are all pleased that it has been clarified that we are the rightful owners of Team Lotus," team owner Tony Fernandes said in a statement. "We have always been confident that the factual evidence we presented would lead to this decision and today's judgment confirms that belief."
Group Lotus can use the Lotus name on its F1 car and use the black and gold livery, but can only display the badge on its road cars. Although Group Lotus can continue to sponsor Renault in F1, it still plans to appeal the court's decision.
"There are issues which still require clarification and we remain committed to obtaining this much needed clarity for the many fans," Group Lotus head of legal Sarah Price said. "The decision to appeal has not been taken lightly."
Team Lotus announced last month that it had acquired British sports car manufacturer Caterham Cars, which specializes in making small lightweight road cars.
"We can turn our attention to ensuring success for Caterham Cars on the road and Team Lotus on track," Fernandes said. "These are two very exciting brands."
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