The Lotus F1 team is reportedly set to announce a multi-million dollar title sponsorship deal with the American technology giant, Honeywell.
The announcement follows the team’s recent news of a multi-year deal with Burn, the European energy drink label of the US beverage giant Coca-Cola.
Founded in 1906, the New Jersey-based Honeywell group is a major American conglomerate company that produces a variety of commercial and consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments.
Should the deal prove true, Honeywell will be another major US-based company to join the F1 sponsorship roster following the series’ highly successful return to the country with the inaugural Grand Prix in Texas.
According to sources, the Honeywell deal could be worth as much as $30 million per season.
“It is thought the framework of the agreement is in place and a formal announcement pending,” Sportspro journalist David Cushnan wrote.