2006 Lotus Elise 6549 Miles on 2040-cars

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Renault bailing out Lotus F1 Team to pay $4M tax bill

The road ahead looks to be clear for Renault to reacquire the Formula One team that once bore its name. The latest reports have it that the French automaker is prepared to pay a multi-million-dollar tax bill to the British government to keep the Lotus team from entering bankruptcy proceedings. According to the report from Autosport, the Lotus F1 Team owes a massive GBP2.7 million – equivalent to over $4 million at current exchange rates – to the Her Majesty's Revenue & Customs authority for income tax and national insurance (Brit-speak for social security). The team was supposed to have withheld and submitted the funds on behalf of its 400 employees dating back to June, but since it has yet to pay up, it's being taken to court by the UK government. Apparently unable to foot the bill, the cash-strapped team looked poised to enter bankruptcy just as the Caterham and Manor/Marussia teams did last year. But Renault is now poised to step in to the team's rescue. Those with a longer memory for F1 history will point out that the Lotus team – which has little to do with the sports car manufacturer of the same name – dates back to 1981, and has changed title and ownership several times over the years. What was founded as Toleman was then taken over by Benetton. Renault acquired the team in 2000, but sold it to its current owners Genii Capital in 2009. The team based in Enstone, UK, won back-to-back world championships with Michael Schumacher in 1994-95 and again with Fernando Alonso in 2005-06, but has struggled both competitively and financially over recent years. Consigned to an engine-supply role since divesting itself of majority interest in the Lotus team, Renault has been rumored to be preparing to reacquire the outfit from Genii – and in all likelihood switch it back from Mercedes power to its own. Paying the outstanding tax bill will likely emerge as the first step in that reacquisition. Once it takes over full ownership again, Renault is expected to rebrand the team in its own image, and will then have to decide on driver and other personnel contracts for next season. Related Video:

Lotus Eletre configurator welcomes virtual tire kickers

The Lotus Eletre configurator is ready to be toyed with. There aren't that many customization options to play with, but the total experience is quite fun. The exterior palette consists of seven colors. The odd bit is that, try what browser we may, we couldn't get the names of those seven colors to appear anywhere. The menu looks like black, green, red, yellow, and three shades of silver, but clicking the latter three reveals what looks like a metallic silver, a flat gray, and a rose-tinted-something. Same with the interior, which comes in green, black, white, or beige. All but black result in a two-tone cabin. Things are much easier when it comes to wheels. The floral petal rims either come in all black or black with polished accents, the center caps are either Lotus yellow or black, and the calipers are either yellow, red, green, black, or charcoal.  For those of you unsure about the Eletre's looks, the well stocked Animations, Beautyshots, and Environments sections could get you on board with the styling — it did for us; a red Eletre under a cosmopolitan setting spoke to us in a way the yellow debut model did not. A couple of notes, though. Choose your colors in one of the Environments; the ambient lighting in the Beautyshots changes the vehicle lighting like in real life, turning the bright yellow calipers into a dusty gray in one instance, for example. The animations that show off features like the aero shutters in the grille and the active rear spoiler need a couple of clicks to perform. And again, just like in real life, the Eletre only does what you tell it; if you leave the hatch up in the Boot animation then click the Spoiler or Front Left Door, the boot stays up. Click to a city environment with the driver's door and hatch open and you'll be crystal clear as to what the Eletre looks at the end of a shopping run, a feature we've never seen in a configurator before. You have your mission and your cautions, now go play. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2017 Lotus Evora 400 Review | Autoblog

European commission investigating F1 finances and anti-competitive accusations

The Kingdom of Formula One reminds us of renaissance Florence - ruled by a singular chieftan behind a mask of representative involvement, rife with spectacularly convoluted machinations, awash in innovations that help define our world and far-flung, vindictive misery. If we found out Bernie Ecclestone's real last name was de Medici, well, it would explain a lot. Now after a bit of back-and-forth, the European Commission (EC) has taken aim at the kingdom, investigating whether F1 is anti-competitive and if the FIA has abused its antitrust agreement. The reason for EC scrutiny is that a British member of the European Parliament who represents an area in southwest England, Anneliese Dodds, has fielded complaints from engineering companies in her constituency that recent moves in F1 have put them out of business. She wrote to the EC to question why the FIA now has a stake in F1 when it signed an agreement in 2001 to be solely a governing body and abdicate any stakeholding in the sport. She also questioned the F1 Strategy Group, a group of the six top teams in F1 that makes decisions about the direction of the sport; she says that the Strategy Group not only appears to be a case of the F1 shirking its rule-making duty, it has resulted in unfair treatment of the small teams that aren't in the group. Dodds has a bit of a point. In 2001, the FIA sold F1's commercial rights to Ecclestone for 100 years for a sum of $313.7 million. That was done to placate European regulators who insisted that "the role of FIA will be limited to that of a sports regulator, with no commercial conflicts of interest." Although the rights are ultimately owned by the FIA and bring in a $10M fee every year from Formula One, those rights bring in $1.6 billion each year to Formula One Management (FOM), the company that owns F1. When Ecclestone was trying to get the new Concorde Agreement signed in 2013 that governs the running of the sport, the FIA wouldn't sign, saying it wanted F1 to share a larger slice of its revenue – the FIA has been losing money for years, see. To the get the FIA to sign, Ecclestone sold it a one-percent stake in F1 for $460,000 and gave the FIA a $5M signing 'bonus;' whenever F1 has its IPO, that stake is estimated to be worth about $120 million - not a bad return. Yet, according to the aforementioned 2001 agreement, the FIA can't have that equity stake.