We already knew Renault was buying Lotus Formula One to get back into racing, but until now, we didn't know how much that deal was going to cost the French manufacturer. As it turns out, the purchase only cost Renault a tiny amount of money.
Apparently for a nominal ₤1, which at the current exchange rate is approximately $1.50.
Renault already sold its team in 2009 to Genii, which renamed it as Lotus to get back some of that retro flair, but the investment firm never managed to turn a profit on the team. Desperate to offload a failing investment, Genii let 90 percent of Lotus go for a nominal payment while keeping 10 percent for itself .
Even while struggling financially, Lotus has improved over the past season, finishing in sixth place overall—two better than its eighth place finish in 2014. With an injection of cash from Renault and a reorganization of the team, things are looking good for the once-again factory Renault team.