F1 team Lotus is reportedly close to announcing a multi-million dollar title sponsorship deal with Honeywell, the American technology giant. "It is thought the framework of the agreement is in place...
"It is thought the framework of the agreement is in place and a formal announcement pending," said Sportspro journalist David Cushnan on Monday.
The news follows Lotus' recent signing of a sponsor deal with Burn, the European energy drink label of the American beverage giant Coca-Cola.
After a five year absence, the United States returned to the F1 calendar this year with a highly successful race on a bespoke circuit in Austin, Texas.
Citing 'informed insiders', Cushnan said the Honeywell deal could be worth $30 million per year to Lotus.
The Enstone based team's driver Kimi Raikkonen finished the 2012 world championship in third place behind Sebastian Vettel and Fernando Alonso.