Honeywell is rumoured to sign as Lotus' title sponsor

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.

Lotus recently announced Burn as a major sponsorToday, it is ranked in the top-100 companies listed on the New York Stock Exchange, employing over 130,000 people worldwide. It achieved a mammoth revenue of $36.5 billion in the 2011 financial year.

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.

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Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.