(CNN) -- Lotus Racing Formula One team, who are sponsored by CNN, have revealed that chief technical officer Mike Gascoyne has signed a new five-year contract.
Lotus only returned to the grid this year but, along with fellow-newcomers Virgin Racing and Hispania, have failed to score a single point so far.
However, they have consistently out-performed their new fledling rivals and the experienced Gascoyne will now remain with the English-based outfit until 2015.
Gascoyne -- who has also worked for McLaren, Tyrrell, Jordan, Benetton, Toyota and Spyker -- told the team's official website: "It was always my intention to finish my career here, so it's great to have formally agreed a five-year deal.
"I'm extremely grateful to everyone involved in Lotus Racing for having the confidence to take this into a long-term contract.
Team principal Tony Fernandes added: "Mike's five-year deal is a major announcement for the Lotus Racing team.
"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 to our current position."