As the squabbles between Proton and Lotus Racing make front-page news, the Formula One Team announced that Chief Technical Officer Mike Gascoyne has extended his contract for another five years. This ties him to the Anglo-Malaysian team till 2015.

The Briton started his career as a wind tunnel engineer at McLaren, but after a year he moved on to Tyrrell. He has sinced worked with teams such as Sauber, Jordan, Renault, Toyota, Force India and now Lotus Racing.

“Having started the team from scratch with Tony it was always my intention to finish my career here, so it’s great to have formally agreed a five year deal. I’d like to extend my sincere thanks to Tony, Din, Nasa, Riad and the whole team, and I’m extremely grateful to everyone involved in Lotus Racing for having the confidence to take this into a long-term contract. We’ve had a great start to our partnership together, and I’m looking forward to continuing that for the next five years, and even beyond that,” said Gascoyne.

Tony Fernandes was delighted with the news stating “It shows just how serious we are, not only about how far ahead we are setting our aspirations, but also as a reward to Mike for the incredibly hard work he and the team have already put in to get us from litreally four people back in September ’09 to our current position as a serious F1™ player with a very bright future ahead of us.”