May 27, 2011 at 02:46 PM
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Court: Team Lotus Can Keep Name

After a lengthy legal battle, London's High Court has announced a verdict in the F1 naming rights battle between Team Lotus and Group Lotus. The court ruled that Team Lotus will be able to continue using its name in Formula 1.

Tony Fernandes, Team Lotus owner and Air Asia CEO immediately took to twitter announcing "We won. I'm over the moon. Team lotus belongs to us. Our chasis name stays lotus. No one can use the chasis name. We are the only lotus. Team lotus."

Read the court's ruling here. Group Lotus has already said it will appeal the verdict.