Renault will maintain its presence in Formula 1 after deciding to sell a big stake of its F1 team to Genii Capital, a Luxembourg-based firm specialising in new technologies, brand management and motor sport. According to UK’s Financial Times, Genii has acquired a 75 per cent stake. Both partners will operate the team together.
It’s status quo for the upcoming season, as Renault F1 Team will retain its name and identity and will carry through with development of its 2010 car. Renault has also commited to supply engines to Red Bull Racing for 2010.
The high cost of racing in F1 is the main issue that Renault and manufacturers that have left the sport face. But the French company explains that cost reduction measures have already improved significantly the operating cost base. And with the anticipated sale of a stake in its F1 base at Enstone UK to Genii Capital, participation in F1 has become more affordable for Renault.
It’s great news to hear that a car manufacturer is willing to sacrifice full control in order to remain in F1. If only BMW, Toyota and Honda followed this route.
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which mean alonso is still in the game.btw,good luck renault.
Horner and Newey must be relieved to hear this.
good. proton should quit.
malaysia memang boleh!! said,
December 17, 2009 @ 2:32 pm
which mean alonso is still in the game.btw,good luck renault.
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Considering that Alonso's now with Ferrari, he's never been out of the game!
Old player still on track… the come back on the way in (Lotus F1)…. the rookiee will enter soon (Virgin F1)…. wah… so rainbow this time…
Kamui Kobayashi to drive for Sauber in 2010 F1 World Championship
Eurosport – Thu, 17 Dec 07:06:00 2009
Buzz Up!
Sauber have announced Kamui Kobayashi as one of their drivers for the 2010 Formula One World Championship.
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So Kamui doesn't have to go to work with his father afterall.. :)
Mazda 3 MPS said,
December 17, 2009 @ 3:00 pm
good. proton should quit.
people dont realize proton isnt the team owner.. its just a sponsor and licensing the brand lotus out apart from that they are not involve in the development of the team.
The aero kits that will come out thru out the year next year wont come from proton it will come from lightspeed. … the team it self isnt proton, the staff isnt proton, the car isnt proton, the drivers damn well isnt proton, even the team boss isnt proton… so whats your problem?
want to be a basher go bash the relation between 1malaysia concept and this team la… pakai that thing above ur ego and think before bashing…
Renault should just leave after that Piquet hanky-panky…
If and when Lotus Cars buys into the team, it will indirectly be Proton's.
proton owns lotus. lotus owns tony fernandez. proton money = malaysia's money.
I think you are missing my point… nor do you actually knew how did lotus f1 came around…
litespeed was the team that got the entry which is owned by Mike Gascoyne, later tony join in with the group bringing a whole band wagon of malaysian companies into the foray.
Proton joins in and allows the name lotus to be used by the team as it is more recognized then "litespeed" or for that matter "proton" … proton DOES NOT own the team… ITS silly to assume so… they are not responsible for the RND of the car, the engine, and everything got to do with the car only thing proton is the logo that will obviously be somewhere on the car next year.
IF PROTON WAS in f1 as a car maker it is pretty obvious by now that F1 would announce that a car maker has join f1… which they didn't…
IT ISN'T THAT hard to understand… read the topic above… renault has bailed from f1 but leaving a % stake in the team… meaning they are merely TITLE sponsors now not actual owners of the team, AND BTW the "team" + the RND center and workshop was all there even before renault join F1 as a carmaker team…
How is, what renault is doing any different than protons stake in F1? OR for that matter SAUBER PETRONAS… petronas does not own sauber… they are a title sponsor…
TO keep it simple LOTUS = ADvert on the f1 car…