Formula One remains one of the biggest sporting spectacles in terms of annual television audiences and media exposure. 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.Īfter 35 years in the sport, Renault today announces a new phase for its F1 programme, consistent with Formula One’s drive for cost efficiencies. In 2010, the team will retain its name, its identity and the core ingredients that led to the successes achieved in 20.
The letter of intent signed by the two companies should be concluded in early 2010. “Renault has decided to maintain its commitment to Formula One and welcomes the perspective of a strategic partnership with Genii Capital, a Luxembourg based firm specialized in new technologies, brand management and motor sport.įollowing the proposed sale of a large stake of Renault F1 Team to Genii, both partners will operate the team together. The manufacturer issued the following release. 2009 was a torrid season for the French marque beset by poor performances and scandal. Following weeks of speculation Renault has revealed that it is to scale down its involvement in Grand Prix Racing.
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