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Cosworth has announced that it has reached an agreement to end its current engine supply deal with the Lotus team.

The move paves the way for Lotus to sign a deal with Renault, with whom the team has reached an agreement in principle for a supply of engines, gearboxes and transmissions, as revealed by AUTOSPORT earlier this week.

"Cosworth has reached an agreement in principle with Lotus Racing whereby the team's Cosworth engine supply agreement will come to a conclusion at the end of the current Formula 1 season," said Cosworth in a statement on Sunday night.

"This agreement is subject to contract and until the agreement is signed, neither party will be making any further comment."

Lotus driver Jarno Trulli retired from today's Italian Grand Prix with a gearbox problem, prompting team boss Tony Fernandes to post on Twitter: "Jarno retired [due to] gearbox. Oh well, making decisions easier."