Renault Announce They Are Reconsidering 2010 F1 Entry
The Renault F1 Team have announced in a statement today that they are reconsidering their 2010 entry into Formula One.
The French car company, who are based in the UK for F1 operations, admitted that if the new regulations stay as they are, referring mostly to the £40million budget cap, they will leave F1.
This news comes on the back of Scuderia Ferrari announcing their intentions to leave the sport if the budget cap remains for 2010.
Renault are a prolific team who have been involved in F1 since the 1970’s with sporadic times of owning teams and supplying engines. In 2002 they re-entered F1 after buying out the Benetton team who had 1990’s success with Michael Schumacher. They won both driver and constructor titles with Fernando Alonso in 2005 and 2006 but have had a fairly barren period since then.
“There is frustration that FOTA’s constructive proposals, including major cost saving measures to be adopted progressively between 2009 and 2012, which were carefully constructed by FOTA members, have been completely ignored without any form of consultation by the FIA with the teams,” said Renault in a statement.
“It should be stressed that FOTA has set the same, if not lower, financial objective as the FIA, but Renault strongly believes that this must be introduced through a different procedure agreed by all parties.
“The decision of the Federation International de l’Automobile (FIA) to introduce two sets of Formula One technical regulations for the 2010 Formula One season has caused the Renault Group to reconsider its entry in next year’s FIA Formula One World Championship.
“Renault also believes that it is paramount that the governance of the sport is coordinated with a spirit of consultation with all parties (FIA, FOM, FOTA) in order to achieve a better balance between the costs and the revenues. Renault is also of the firm view that all entrants in the World Championship must adhere to and operate under the same regulations.”