F1 News, Views and Reviews

Prodrive Faces Competition From Luxembourg Investors For Renault Team

The Renault F1 Team are today looking and analysing competing bids from Prodrive and an investment company based in Luxembourg.

The original thoughts following an article in L’Equipe were that the investment company were providing Prodrive with funding to buy the team but it now appears they are rivals.

The investment fund Genii Capital is run by Gerard Lopez, and funding is also coming from Eric Lux according to a large article in Le Parisien today.  They are also major investors in the Gravity Motorsport driver programme, and have told Renault they plan to keep the Renault Young Driver Programme going if they take over.

The Gravity management company manage Ho-Pin Tung who tested a Renault earlier this week.

An article in The Times today reckoned Prodrive however were on the verge on signing on the dotted line for the ailing French team, and Bernie Ecclestone claimed to the newspaper that a deal was close.

“We’ve got to get the whole Renault thing sorted out,” he said. “We are in the middle of doing it now. I feel confident that we’ll see Renault next year in Formula 1 under the name Renault and the year after and the year after that.”

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