Lotus' new co-owners have vowed to make the team "number 1 in 12 months" after buying a 65% share from Genii Capital.

It was announced by Genii Capital on Tuesday that Infinity Racing, made up of an American hedge fund, an Abu Dhabi group and an oil-rich royal family had bought the stake in Lotus, well known for having one of the lower budgets of the leading teams.

The Telegraph reporter Tom Cary said the royal family are believed to be Brunei who's Sultan are among the richest people in the world.

"It is clear the new shareholders are not going to sit idly in the background," said Cary.

Infinity's chairman is Mansor Ijaz, a New York-based investment banker and media commentator.

Ijaz gave an interview to SportsPro magazine and made a bold prediction for Lotus's short term future: "I say it simply, flatly, completely -- we'll be number 1 in 12 months."

Although Ijaz did not comment on the Telegraph's report the royal family was indeed from Brunei, he did speak about the technological benefits the tie up with Lotus will bring in 2014.

"I won't go too much into that today because I want to keep some elements of surprise in terms of what we're going to do to win the championship, but we have enormous technological capabilities that we can bring and we're going to make Lotus the number one team for sponsorship within the next year," added Ijaz.

Ijaz then said that his younger brother Mujeeb will be "an important part of the story".

"I would say we will be integrally involved in the technology development side, as the engines change next year, as technology comes to the front," said Ijaz.


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Formula 1