‘Renault deal a week away’

Renault's deal to purchase a majority stake in the Lotus F1 team could be finalised as early as "next week" according to a report.

Unhappy with their current situation in Formula 1, which has seen Renault largely blamed for Red Bull's troubles, the French manufacturer is keen to return to being a works team.

After months of negotiations that is reportedly just a week away.

According to Autosport, next week Renault could sign on the dotted line to purchase a 65 percent stake in the Lotus F1 team. The deal is worth £65million.

Genii's Gerard Lopez will retain 25 percent while four-time F1 World Champion Alain Prost will acquire the remaining 10 percent.

And even better news for the team is that Renault are set to agree a "budget that would put it on a par with the likes of Mercedes and Red Bull."

Autosport added that should the deal fall through for any reason, "Force India remains an option" for Renault.