F1weekly podcast number 398.
Kamui Kobayashi will drive for Sauber F1 in 2010.
USF1 seems to be falling off the radar, will they make it to the grid?
Motorsports Mondial with Nasir Hameed and…
Special Interview with recent F1 tester at Jerez, Alexander Rossi.
RENAULT STAYS IN FORMULA ONE
Renault has decided to maintain its commitment to Formula One and welcomes the
perspective of a strategic partnership with Genii Capital, a Luxemburg based firm
specialized in new technologies, brand management and motor sport. Following the
proposed sale of a large stake of Renault F1 Team to Genii, both partners will operate the
team together. The letter of intent signed by the two companies should be concluded in early 2010.
For 2010, the team will retain its name, its identity and the core ingredients that led to the successes
achieved in 2005 and 2006. The team will continue to be supplied with engines by its sister
company in Viry-Châtillon, which is also pleased to have received a renewed commitment from Red
Bull Racing for the 2010 season.
After 35 years in the sport, Renault today announces a new phase for its F1 programme, consistent
with Formula One’s drive for cost efficiencies. Formula One remains one of the biggest sporting
spectacles in terms of annual television audiences and media exposure. Renault therefore believes
that the impact of Formula One in terms of image, and brand awareness worldwide, particularly in
new, emerging markets, will continue to play a key role in fulfilling the company’s growth objectives
in years ahead.
Bernard Rey, Renault F1 Team President, said: “I am delighted to welcome Genii Capital as our
new strategic partner as I am sure that their enthusiasm and business expertise will create a new
dynamic for the team, the staff, and our partners. Altogether, we look forward to competing again at
the highest level in Formula One. Today’s announcement also confirms Renault’s commitment and
trust in the sport’s governing bodies to improve the green credentials of Formula One.”
Indeed, in making such a decision, Renault not only demonstrates its commitment to its fans across
the world, its employees in Enstone and in Viry, and the FIA, FOA and FOTA but it also believes in
the positive impact of promoting relevant technologies in synergy with its product plan. “With the
ongoing evolutions of the Formula One regulations, Renault will be able to entertain its fans, while
promoting a leaner and sounder Championship. We will show Renault’s skill when it comes to
developing high-performance, fuel-efficient cars” said Bernard Rey, Renault F1 Team President.
The important cost reduction measures, made possible by the collective work within FOTA, have
already improved significantly the operating cost base. With the anticipated sale of a stake in its F1
operational base in the United Kingdom to Genii Capital, Renault achieves today another step that
will definitely bring F1 participation to an affordable level for the Group. In addition, the new
partnership will contribute to procuring the team the resources to compete sustainably at the
highest level, and creates a great opportunity to modernise its governance.
Renault Group: Frédérique Le Grevès