There has been quite a bit of action behind the scenes on this in the last few months, as Group Lotus, run by Danny Bahar, was trying to stop Fernandes using the Lotus brand in F1 and withdrew the licence from Group Lotus which Fernandes negotiated for this season.
The dispute is still ongoing and there is an appearance at the High Court in London next year at some point to resolve the matter, but what appears to have happened in the last few weeks is that the proposed deal between Group Lotus and Renault F1 team, whereby Lotus would become title sponsor and potentially shareholder, has been put on hold.
I’m told that Bahar and Fernandes have been told by the Malaysian government to try to work together rather than continue to create a confusion over Lotus branding. If this is the case, it will be an uncomfortable arrangement at best and there is bound to be plenty more horse trading before the season starts. But today’s announcement, is a significant stepping stone in this story.