UPDATE: And it’s back on again. The video clip that was happily running for a few hours on myteamlotus’s Channel on YouTube prior to the official announcement, and was then made “private,” is back on line.

Last week, we told you about Team Lotus’ event at The Imperial War Museum in Duxford, UK, and that it would feature “an incredibly exciting announcement about the future of our team”. The British press sniffed out Caterham as the brand that would be taken over by Tony Fernandes and friends, the latest twist in this Lotus drama. Caterham’s defining model, the Seven, was originally a Lotus.

The event doesn’t start until later today, but Team Lotus has released a video featuring both the T128 and the Caterham Seven in matching colours. In it, the Kent based carmaker’s MD Ansar Ali (a former Group Lotus employee) talks about his company and its F1 linked future.

Who’s who at Caterham, as shown on companiesintheuk.co.uk

“Caterham has a unique place at the heart of the motoring world, and we’re bringing them into Formula 1. It will be the first step in our journey of producing a commercial arm for the Formula 1 team, Team Lotus.

“We will in due course be announcing the full branding and platform of how we’ll bring Caterham into Team Lotus, which I think will excite all the staff at Caterham, and all the fans of Caterham cars,” Ali said.

“We’re building for success on track, and now, with the new future of Caterham cars we’ll be taking our dream to the road as well,” he added. Sounds to us like a range expansion to include “proper road cars” with the spirit of the Seven! Could this be a bid to take on Group Lotus on all fronts?

Stay tuned for more!