Renault looks likely to end its time as a full fledged constructor in Formula 1 and is set to sell its F1 operations, but is torn between two buyers – UK-based Prodrive and Luxembourg investment fund Genii Capital, according to Autosport. There is a possibility that the Renault name will still be on the grid next season, but with new people calling the shots.
The report says that Genii Capital’s plan is to take financial control of the team, but for it to remain Renault for at least another two years. Company head Gerard Lopez has agreed to incorporate the Renault Driver Development programme into his Gravity Sports Management company if he takes over the team. France’s Le Parisien suggests that Renault CEO Carlos Ghosn favours this route, which also has the blessing of F1 supremo Bernie Ecclestone.
On the other side of the coin, it is believed that the current Renault F1 team management favours Prodrive’s bid. Prodrive is run by David Richards (also the chairman of Aston Martin), whose vast experience of running F1 teams (BAR and Benetton) will be an asset, and his involvement would allow Renault to fully withdraw its name from the sport.
The next season in F1 will see a vastly changed paddock with so many exits and entries. Are you looking forward to it?