Team Lotus, one of the most iconic names in motor
racing, are returning to Formula One after 15 years. The FIA today announced that a revived Lotus team backed by the Malaysian Government and a consortium of Malaysian businessmen had been granted the 13th place in next year's world championship.

The new contenders will initially be based near the Lotus sports car factory in Norfolk but later move their technical headquarters to the Sepang circuit near Kuala Lumpur. They will line up as one of four new teams for 2010 alongside US F1, Campos and Manor.

The current BMW Sauber team, who had been threatened by the withdrawal of BMW from Formula One at the end of the season, have initially been nominated as first reserve for 2010 following a buyout today by the Swiss-based Qadbank Investments company.

However, the FIA will press for 14 teams to be allowed to compete next year. In a statement, motor sport's governing body, confirmed they will be “consulting urgently with the existing teams regarding the introduction of an appropriate rule change to expand the grid to 28 cars”.

The original Lotus team, founded by engineer Colin Chapman, competed in Formula One from 1958 until 1994 when they hit financial problems. It won seven constructors' and six drivers' championships with Jim Clark, Graham Hill, Jochen Rindt, Emerson Fittipaldi and Mario Andretti claiming titles with the team.

Among other leading drivers to compete for Lotus were Nigel Mansell, Ayrton Senna, Nelson Piquet, Mika Hakkinen and Johnny Herbert.

The driver line-up for the new team has not been announced. However, the team principal has been named as Tony Fernandes, founder and CEO of the Malaysia-based Tune Group which owns the AirAsia no-frills airline, current sponsors of Williams.

The technical director will be Mike Gascoyne, whose previous teams included Jordan, Renault, Toyota and most recently Force India. His cars will use Cosworth engines.