Gerard Lopez: 'Renault takeover of Lotus a done deal'

Lotus boss Gerard Lopez has confirmed that a proposed takeover of the team by Renault is "pretty much there".

The French manufacturer's buyout of the Enstone-based outfit has dominated many of the headlines in Formula 1 during the second half of the season, but the deal has yet to be finalised, despite Renault signing a letter of intent.

However, Lopez has revealed the takeover is now close to completion ahead of the 2016 season.

He is quoted by Sky Sports F1 as saying: I think we're pretty much there with Renault. I understand that Renault still has some things which they need to clear with Formula One and the rights owner FOM, but as far as we're concerned, I think we're pretty much at a deal now.

"I will still be a co-owner, but not to the same extent that I am now. I won't be saying goodbye, because I was asked to stay. Should a deal come about, then I will continue to be there."

Lotus will also bid farewell to Romain Grosjean next weekend, when he drives his final race in Abu Dhabi for the team before joining Haas.