Formula One Group

The Yota Devices has acquired a minority stake in Lotus as part of an agreement that will guarantee the smartphone manufacturer branding exposure on the Formula One team’s cars.

US private equity firm Bluewaters Communications Holdings has had a $650m (€477.9m) lawsuit against Formula One chief executive Bernie Ecclestone dismissed by the New York Supreme Court, according to the Autoweek website

Gene Haas, co-owner of Nascar motor racing team Stewart-Haas, has entered an application to launch a new American Formula One team through his Haas Racing Developments outfit.

Ron Dennis has replaced Martin Whitmarsh as group chief executive of the McLaren Formula One team.

The Munich state court confirmed today (Thursday) that Formula One chief executive Bernie Ecclestone will face charges over payments to a German banker when the motor-racing series was sold to private equity group CVC Capital Partners in 2005.

Formula One team Lotus has confirmed that talks have ended with potential investor Quantum Motorsport, but chairman Gerard Lopez has maintained the motor racing outfit’s financial future is secure.

Patrick Louis has stepped down as chief executive of Lotus as part of a senior management reshuffle at the leading Formula One motor racing team, according to the Autosport website.

Formula One Group chief executive Bernie Ecclestone has said he considered staging New Jersey's Grand Prix of America on a permanent track, rather than the street circuit that has suffered numerous difficulties in its development schedule.

The Austrian Grand Prix’s return to the Formula One calendar has been confirmed after local authorities gave their approval for their event.

Russian Grand Prix organisers have announced the appointment of Abu Dhabi GP mastermind Richard Cregan to oversee preparations for the country’s inaugural Formula One race in Sochi this year.

The FIA, motorsport’s global governing body, has launched a tender process seeking expressions of interest from would-be new teams for a potential slot on the Formula One grid from the 2015 or 2016 season of the motor racing championship.

German banking group BayernLB is planning to bring a $400m (€294m) damages claim against Formula One Group chief executive Bernie Ecclestone in London next month, according to the Reuters news agency.

Formula One will again attempt to introduce a budget cap from the start of 2015, as the motor racing series announced controversial plans to revamp its season finale.

Ticketmaster has been announced as the exclusive ticketing provider for the Australian Formula One and Motorcycle Grand Prix events.

Formula One supremo Bernie Ecclestone has named Red Bull team principal Christian Horner as the ideal candidate to succeed him when he steps down.

Energy drink manufacturer Red Bull reduced investment in its championship-winning Formula One team by $28.5 million to $108.9 million last year, according to its latest financial report.