LONDON, England - The Lotus F1 team is apparently close to announcing a multi-million dollar title sponsorship deal with American technology giant Honeywell.
PUTTING CASH IN THE COFFERS: Lotus F1 is apparently close to securing a multi-million title sponsorship agreement with Honeywell for the 2013 F1 season.
A Sportspro journalist said on Monday: "It is thought the framework of the agreement is in place and a formal announcement pending."
FEELING THE BURN
The news follows Lotus' recent signing of a sponsor deal with Burn, a European energy drink label of the American beverage giant Coca-Cola. After a five year absence, the US returned to the F1 calendar in 2012 with a very successful race on a new circuit in Austin, Texas.
Citing "informed insiders", the journalist said the Honeywell deal could be worth R260-million a year to Lotus.
The UK-based team's driver Kimi Raikkonen finished the 2012 World championship third behind Red Bull's Sebastian Vettel and second-placed Ferrari driver Fernando Alonso.