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Motorsport Week

Proton confirms Renault buy-in negotiations

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15 years ago
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Proton’s managing director, Datuk Syed Zainal Abidin Syed Mohamed Tahir, has confirmed negotiations are underway with the Renault F1 team to acquire a substantial stake in the outfit.

Zainal is hoping to finalise a deal which would see Proton take a 25% ownership stake in the team, rebranding it Lotus-Renault for the 2011 season.

It was previously thought the Malaysian government owned company would become a title sponsor, but Zainal confirmed otherwise.

“Yes, that’s the intent,” he said in reply to the rumours. “A decision will be made soon.

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“It will be made for the betterment of the Lotus brand. We as a shareholder have to make sure it [the Lotus brand] survives,” he told Malaysian newspaper The Star.

“We’re close, just wait for a few days. [Whether it’s] 25% is something that we are discussing. It’s still too premature to disclose the exact percentage but it has to be a position where we can control our brand,” he added.

Zainal says the move is justified by the marketing and branding benefits F1 brings to a company, highlighting Mercedes and Ferrari as prime examples.

“If you look at all the other OEMs (original equipment manufacturers) like Ferrari and Mercedes, F1 has a direct impact on their marketing and branding,” he concluded.

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