Lotus paid to end Cosworth contract

Lotus had to pay to be released from its 2011 contract with current engine supplier Cosworth.

The parties agreed in principle at Monza last month to terminate the agreement, amid widespread reports Lotus is set to announce a comprehensive technical deal with Renault.

But the news was only formalised mere days ago, with Cosworth saying it finally "agreed settlement terms satisfactory to both parties".

According to Finland’s Turun Sanomat, Malaysian-backed Lotus "had to pay compensation for the cancellation of the contract".

Lotus and Cosworth have been contacted for comment.