Lotus chief executive Matthew Carter has denied that the team are about to be bought out by French manufacturer Renault.

The engine supplier has been involved in a public spat with Red Bull over the performance of their 2015 power units.

Marca claims that Renault has formed a company as they seek investors for a buyout of the Enstone-based constructor, but Carter has dismissed any notions of a sale.

He told reporters: "I continue to say the same thing - the shareholders have told me that the company isn't for sale.

"I think I've said in the press before that everything is sale for a certain price.

"I continue to reiterate that we signed a long-term contract with Mercedes-Benz and as far as we're concerned we just continue down that route."

Lotus drivers Romain Grosjean and Pastor Maldonado will start on the third row of the grid for Sunday's Canadian Grand Prix.