![Lotus F1 team continues to hold talks with Renault regarding a possible takeover](https://speedcafe.us/wp-content/uploads/2023/10/Lotustakeover-344x206.png)
The Lotus Formula 1 team is travelling to Monza for this weekend’s Italian Grand Prix following a financial rescue from F1 commercial boss Bernie Ecclestone.
Lotus’s financial struggles have made headlines on a number of occasions in recent months as it continues to negotiate a buy-out from Renault.
The French car maker is reportedly poised to take a 65 percent stake in the team as soon as this week.
Lotus’ finances are meanwhile in lockdown as the talks progress, which has prompted Ecclestone to step in and pay the team’s staff to ensure the squad makes the grid at Spa and Monza.
Ecclestone confirmed the move to The Times newspaper, which claims the long-time F1 boss has handed over £1.5 million ($3.27m AUD).
“I thought I should cover the wages of the people there to make sure they were all right and so that Lotus would at least get to Spa and, hopefully, to Italy,” Ecclestone said.
“But they really need to make progress with Renault now to make sure everything is OK.”
This is the latest in a string of troubling circumstances which saw the team’s equipment impounded following the Belgian Grand Prix after a legal dispute with former test driver Charles Pic.
The matter has since been resolved to allow the team to compete at the Italian Grand Prix.
Lotus also faced a winding up petition in July following several unpaid bills to creditors.
Despite the ongoing uncertainty, Lotus heads to Monza with raised spirits after Romain Grosjean scored an impressive third place at Spa.
“I think that the potential is quite good,” said technical director Nick Chester.
“The cars have performed well at medium downforce tracks like Montréal and Spa.
“Monza is a step lower downforce that we never run anywhere else. The car seems to be efficient heading down to these kinds of levels.
“The E23 also has good braking and is reasonably well set-up for low drag. It should go quite well in Italy.”