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In May 2009, a Forumula 3 Team called Litespeed made an announcement that they would be applying to enter the Formula One grid for the following year, after rules changes were brought in that limited finance to be spent on cars.

What surprised people was when they announced they would be doing it under the Team Lotus name. Lotus were a classic racing team until the mid nineties, and the thought of a revival had many people interested. Of course, this raises concerns of whether they will get onto the F1 grid, whether they can do the name justice, and exactly what is going on with F1 for next season.

This page covers the rumours, facts and reporting that has come out of this ongoing story.