Team Lotus Buys Caterham

Just the Facts:

• The Team Lotus F1 operation has purchased Caterham Cars.
• To mark the occasion, a special-edition Caterham Seven wears Lotus livery.
• Team Lotus is still tied up in a legal dispute over the rights to the Lotus name.

CATERHAM, England — Caterham Cars, the tiny British firm that took over production of the iconic Lotus Seven from Colin Chapman in 1973, has been acquired by the principals behind the Lotus Formula 1 operation.

Team Lotus Enterprises, which announced the deal on Wednesday, is headed by Tony Fernandes, Kamarudin Meranun and SM Nasarudin.

To mark the occasion, Caterham said it will build a limited run of Team Lotus Special Edition Sevens. Priced at $4,950, the Team Lotus upgrade package is available on any variant of the Caterham Seven and features the traditional green-and-yellow Lotus livery, as well as a plaque signed by Team Lotus F1 drivers Jarno Trulli and Heikki Kovalainen. The package includes a customized tour of the Team Lotus F1 factory in Hingham.

Caterham started as a U.K. dealer for the Lotus Seven and acquired the rights to produce the car in 1973 when Lotus Cars ceased its production after a 16-year run.

Team Lotus said Caterham will continue to be led by the existing management team, including Managing Director Ansar Ali.

The Lotus F1 team, you'll recall, is embroiled in a legal dispute over the rights to the Lotus name with the principals of the current Lotus-Renault F1 team (Group Lotus). There's speculation that Team Lotus might potentially adopt Caterham branding for its team, depending on the outcome of a London high court decision.

Inside Line says: Team Caterham? Sure, maybe it'll restore some purity and simplicity to Formula 1. — Paul Lienert, Correspondent