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Fernandes says he rejected Lotus offer

China Daily | Updated: 2011-02-14 07:42

KUALA LUMPUR - Aviation tycoon Tony Fernandes said on Friday he had rejected a six million pound ($9.7 million) offer to settle the Lotus naming dispute that has embroiled two Formula One teams.

After a 16-year absence, the Lotus name returned to F1 last season under Fernandes, the flamboyant founder of Malaysia-based budget carrier AirAsia.

But in September, Malaysian automaker Proton, which owns a controlling stake in Lotus, terminated Fernandes' licence, forcing him to drop the original name of Lotus Racing and compete as Team Lotus this season.

Fernandes says he rejected Lotus offer

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