FORUMula1.com - F1 Forum

[vaptin]

From Andrew's Beson's blog on the bbc

On Thursday, the respected French newspaper L'Equipe published a report saying Renault president Carlos Ghosn had now decided that the company would cease its involvement as a car constructor, while remaining an engine supplier, and was looking for a way out that would enable the team to survive. The situation is being discussed at a meeting of Ghosn and his heads of department on Thursday - and again at a conseil d'administration (executive board meeting) next week.

The story is written by the journalist Anne Giuntini, who is very well connected at Renault, so I am pretty confident that it is accurate.

Giuntini's report says Renault is trying to strike a deal to sell the team to Prodrive, the engineering company behind the Subaru world rally team which is run by former Benetton and BAR F1 team boss David Richards.

[racechick]

I try not to say things I can't stick to

Wise! If only I had such control and forethought!!

Hey, I am a very thoughful and deep person!

I realise this!!

[headless]

I try not to say things I can't stick to

Wise! If only I had such control and forethought!!

Hey, I am a very thoughful and deep person!

I realise this!!

Goooood

[Hanwombat]

It would be very sad to see Renault go, already bad enough that Toyota have left- much to alot of our members delight I imagine :/

[Gaz]

If it is gonna be sold i hope prodrive get it.

[rozer]

not another one gone
though would be quite cool to see Richards back

[myownalias]

I hope that Dave Richards buys the Renault team (should they sell) as he has been on the cusp of creating his own F1 team for years, hopefully he can bring the magic to F1 that he brought to the Subaru team in World Rally. Pro-Drive or maybe the Aston Martin name would be worthy replacement!

[texasmr2]

I hope that Dave Richards buys the Renault team (should they sell) as he has been on the cusp of creating his own F1 team for years, hopefully he can bring the magic to F1 that he brought to the Subaru team in World Rally. Pro-Drive or maybe the Aston Martin name would be worthy replacement!

[scotty]

Renault considering rival bids for team

By Jonathan Noble Friday, December 4th 2009, 11:11 GMT

Renault is at the centre of rival bids to take control of its Formula 1 team, AUTOSPORT has learned, as David Richards' Prodrive operation faces opposition from Luxembourg investment fund Genii Capital.

The French car manufacturer's executive committee met in Paris yesterday to discuss the future plans for the team, ahead of a crunch board meeting next week.

It is understood that no formal decision was made about what to do, because it was felt that the rival bids need more consideration, but it is edging close to picking which way it wants to go.

A report that first emerged in French newspaper Le Parisien this morning, which has been confirmed to AUTOSPORT by sources close to the deal, has revealed that rather than Prodrive's bid being in co-operation with that of businessmen Gerard Lopez, as was initially suggested, they are in fact rivals.

Lopez's plans are being put together through his Genii Capital company, with co-operation from his business partner Eric Lux. The company has invested in a number of projects - including the Charlie Chaplin museum in Switzerland and the Gravity Sports Management company that looks after a number of drivers.

It is understood that Lopez's plan is for his company to take financial control of the team, but for it to remain Renault for at least another two years.

Sources have revealed that he intends to take between 75 and 100 per cent of the Renault team if his bid is successful. Furthermore, Lopez has agreed to incorporate the Renault Driver Development programme into his Gravity Sports Management company if he takes over the team.

Le Parisien suggests that Renault's CEO Carlos Ghosn favours this option for the future - especially because it has the blessing of Formula 1 supremo Bernie Ecclestone.

AUTOSPORT understands that although the executive committee did not make a formal decision about its plans for next year, it feels the Lopez bid is in pole position.

However, the situation is complicated by the fact that the current Renault F1 team management is believed to favour the bid being put together by Prodrive.

Richards' vast experience of running teams at all levels of motorsport would be valuable to Renault as it bids to return to the top in F1 - and it is believed his involvement would allow Renault the chance to withdraw its name from F1 and remain only as an engine supplier.

Ecclestone told The Times on Friday that he was confident a solution would be found to keep the Renault team in F1.

"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."

Ominous...

[texasmr2]

Indeed.