Renault Will Remain in F1.... with new partner
12-12-2009, 02:33 PM
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Renault Will Remain in F1.... with new partner
'Renault to stay under new ownership'
Reports on Thursday explain that, following deliberations within the company, Renault will stay on in Formula 1 next season. With Honda, BMW and Toyota all having left the sport within the space of a year, the French marque had looked set to become the fourth to do so although the Enstone squad now looks likely to remain.
With the sport having seen half of its car manufacturers disappear within a 12-month period, the Renault parent company held emergency meetings in France in early November, stating that a final decision would come before the end of the year.
On Thursday, the BBC reports that a deal has been secured to keep the team in the sport, although under new ownership with the diamond company holding a minority shareholding. Furthermore, the reports suggest that the cars will still be branded as Renaults despite the manufacturer no longer being the majority stakeholder in the team.
Kubica joins Renault from the departed BMW
Likely candidates for team ownership so far have been Gerard Lopez, a Luxembourg businessman, and Prodrive owner David Richards. Although the subject remains a speculative area, Renault could continue to hold a 25% share in the team after a final decision is believed to have been made in an executive board meeting on Wednesday.
In terms of drivers, Robert Kubica has already joined although the second position remains vacant. A new title sponsor must also be found after Dutch financial institution ING pulled out with immediate effect this season in the aftermath of the 'Crashgate' race-fixing scandal of Singapore last year.
Reports on Thursday explain that, following deliberations within the company, Renault will stay on in Formula 1 next season. With Honda, BMW and Toyota all having left the sport within the space of a year, the French marque had looked set to become the fourth to do so although the Enstone squad now looks likely to remain.
With the sport having seen half of its car manufacturers disappear within a 12-month period, the Renault parent company held emergency meetings in France in early November, stating that a final decision would come before the end of the year.
On Thursday, the BBC reports that a deal has been secured to keep the team in the sport, although under new ownership with the diamond company holding a minority shareholding. Furthermore, the reports suggest that the cars will still be branded as Renaults despite the manufacturer no longer being the majority stakeholder in the team.
Kubica joins Renault from the departed BMW
Likely candidates for team ownership so far have been Gerard Lopez, a Luxembourg businessman, and Prodrive owner David Richards. Although the subject remains a speculative area, Renault could continue to hold a 25% share in the team after a final decision is believed to have been made in an executive board meeting on Wednesday.
In terms of drivers, Robert Kubica has already joined although the second position remains vacant. A new title sponsor must also be found after Dutch financial institution ING pulled out with immediate effect this season in the aftermath of the 'Crashgate' race-fixing scandal of Singapore last year.
