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It's over says Renault

Renault will stop supplying Formula One teams engines as soon as possible according to the French manufacturer.

Throughout 2015 Red Bull Racing and Renault have been at loggerheads.

Talk of Red Bull ending their relationship with Renault prior to their 2016 contract expiring has been the talk of the paddock for several weeks.

If this contract was to be ended early, this would also affect sister team Toro Rosso.

'We have already alerted the F1 authorities and told them: 'Don't count on us as a provider of an engine - it's over.'' Renault's chairman and chief executive officer Carlos Ghosn told the BBC.

Speaking directly about Renault's relationship with Red Bull Racing he added: 'you are in the game that when you perform very well [four F1 drivers and constructors titles] you are never mentioned, and when there is a problem with the team you are the first guy to be pointed at.'

It leaves Renault at a crossroads.

According to reports, Renault have made an offer to Genii Capital to buy back a 65% stake in the Lotus team which is valued at around £65million.

The offer is staggered over a 10-year period, but Renault would also put together a sponsorship package which would cover the team's operating budget.

Whilst former four-time Formula One World Champion Alain Prost could also be set to buy a stake in the team, the former team owner could become the new team principal if the takeover is completed.

That would leave current co-owner Genii Capital a 25% stake in the team which is for all intense and purposes funded by Renault and regular payments of around £540,000-a-month.

If however Renault cannot complete a takeover of Lotus and once again become a manufacturer in their own right then they would walk away from Formula One.

Ghosn added: 'Our future is the subject of detailed analysis and renegotiating,'

'We will either exit [the sport] or run our own team. We don't have a clear decision yet.'








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The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Thursday September 17 2015

Time: 9:00AM

 

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