From GMM

The new Malaysian-owned Lotus F1 team is in talks about being sponsored next year by Petronas, the state owned oil company.

Petronas has been a long term sponsor of the BMW-Sauber team, who are being taken over by the mysterious investment group Qadbak.

Lotus boss Tony Fernandes, who is also in charge of the Williams sponsor AirAsia, confirmed the Petronas talks.

"We would love Petronas to sponsor us," he said at the verge of the Singapore grand prix.

It is also rumoured that 2002 Minardi driver and Malaysian Alex Yoong, now 33, has joined the team, but will have a management role rather than a driving one.

In the meanime, BMW-Sauber will soon discover if its place on the 2010 grid is guaranteed since the FIA recently granted the 13th and final guaranteed team spot to Lotus.

The team could race if a confirmed team pulls out or if the grid is expanded to accommodate 28 cars.

When asked when BMW-Sauber will definitely know about its 2010 entry, F1 chief executive Bernie Ecclestone answered in Singapore: "Next week probably. They need to know."