Cosworth has announced it has reached an agreement with Lotus Racing, in order to terminate their partnership in 2011, paving the way for the Norfolk-based squad to switch to Renault powerplants as has been rumoured for some time.A brief statement from Cosworth comfirms.
"Cosworth has reached an agreement in principle with Lotus Racing whereby the team's Cosworth engine supply agreement will come to a conclusion at the end of the current Formula One season. This agreement is subject to contract and until the agreement is signed, neither party will be making any further comment."
The news follows comments made by Lotus team boss, Tony Fernandes following the Italian Grand Prix at Monza, when he all but confirmed gossip the squad will switch to using Renault engines from next year.
"We have to do something different and it will be done soon. Lots of negotiations have gone on over the last couple of weeks and we're very happy with the outcome. We want to move up the grid and we want to be up there with the Red Bulls and Ferraris in years to come - we're not going to do that overnight but we've got to make those constant steps forwards. There's nothing wrong with the [Cosworth] engine but we've had some issues. Watch this space. There will be an announcement soon."
