Monday, 10 December 2012 15:38
Lotus to announce title sponsorship deal - The Lotus Formula One team is reportedly close to announcing a multi-million dollar title sponsorship deal with Honeywell, the American technology giant.
"It is thought the framework of the agreement is in place and a formal announcement pending," said Sportspro journalist David Cushnan on Monday.
The news follows Lotus' recent signing of a sponsor deal with Burn, the European energy drink label of the American beverage giant Coca-Cola.
After a five year absence, the United States returned to the Formula 1 calendar this year with a highly successful race on a bespoke circuit in Austin, Texas.
Citing 'informed insiders', Cushnan said the Honeywell deal could be worth $30 million per year to Lotus.
The Enstone based team's driver Kimi Raikkonen finished the 2012 World Championship in third place behind Sebastian Vettel and Fernando Alonso.