Gascoyne signs five-year deal with Lotus Racing

London: Technical head Mike Gascoyne has signed a five-year deal keeping him at Lotus Racing until at least 2015, the Formula One newcomers said on Wednesday.

Lotus Racing plan to change their name to Team Lotus next season but are facing a legal battle with Malaysian car manufacturer Proton, owner of the British-based Lotus sportscar company that also has a motor racing division.

Both sides have issued statements over the last few days, highlighting their sporting aspirations and positioning themselves as true heirs to the team founded in the 1950s by the late Colin Chapman.

Gascoyne, who has been technical director at a fistful of teams including Toyota and Renault, said he was in for the long haul after bringing the Lotus name back to Formula One this season with Malaysian entrepreneur Tony Fernandes.

"It was always my intention to finish my career here," he said.

"We`ve had a great start to our partnership together and I`m looking forward to continuing that for the next five years and even beyond that."

Bureau Report

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