Is Renault on the way out of F1?

BudVlad · 12-03-2009, 10:31 AM

Renault are understood to be once again discussing their future in the F1. Rumors are that they could be on the verge of selling the team to David Richards' Prodrive. Former BAR team principal Richards has twice tried to return to F1 with his own team in recent years.
Renault CEO Carlos Ghosn in a recent interview questioned Renault's involvement in F1 at a time when three manufacturers - Honda, BMW and Toyota - have pulled out of the sport in the last 12 months.

Formel1 · 12-03-2009, 11:38 AM

Big meeting in Paris today...we should know something by tomorrow I'd think...

BudVlad · 12-04-2009, 07:14 AM

Renault’s executive committee met in Paris 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.
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. Lopez intends to take between 75 and 100 per cent of the Renault team if his bid is successful. 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. Renault's CEO Carlos Ghosn favors this option for the future.

BudVlad · 12-10-2009, 04:09 PM

BBC reports that a deal has been secured to keep the team in the sport, although under new ownership with Renault holding a minority shareholding. Furthermore, the reports suggest that the cars will still be branded as Renaults despite the manufacturer no longer being the majority stakeholder in the team.
Likely candidates for team ownership so far have been Gerard Lopez, a Luxembourg businessman, and Prodrive owner David Richards. Although the subject remains a speculative area, Renault could continue to hold a 25% share in the team after a final decision is believed to have been made in an executive board meeting on Wednesday.
In terms of drivers, Robert Kubica has already joined although the second position remains vacant.

12-03-2009, 10:31 AM	#1
BudVlad Old Geezer 397 Rep 1,201 Posts Drives: 08 E92 N53B30 Join Date: Jul 2007 Location: Budweis iTrader: (0) Garage List 2008 E92 N53B30 [10.00]	Is Renault on the way out of F1? Renault are understood to be once again discussing their future in the F1. Rumors are that they could be on the verge of selling the team to David Richards' Prodrive. Former BAR team principal Richards has twice tried to return to F1 with his own team in recent years. Renault CEO Carlos Ghosn in a recent interview questioned Renault's involvement in F1 at a time when three manufacturers - Honda, BMW and Toyota - have pulled out of the sport in the last 12 months. __________________
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12-03-2009, 11:38 AM	#2
Formel1 Second Lieutenant 49 Rep 257 Posts Drives: 2009 BMW 135i Join Date: Jul 2009 Location: Winter Park, FL iTrader: (1)	Big meeting in Paris today...we should know something by tomorrow I'd think...
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12-04-2009, 07:14 AM	#3
BudVlad Old Geezer 397 Rep 1,201 Posts Drives: 08 E92 N53B30 Join Date: Jul 2007 Location: Budweis iTrader: (0) Garage List 2008 E92 N53B30 [10.00]	Renault’s executive committee met in Paris 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. 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. Lopez intends to take between 75 and 100 per cent of the Renault team if his bid is successful. 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. Renault's CEO Carlos Ghosn favors this option for the future. __________________
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12-10-2009, 04:09 PM	#4
BudVlad Old Geezer 397 Rep 1,201 Posts Drives: 08 E92 N53B30 Join Date: Jul 2007 Location: Budweis iTrader: (0) Garage List 2008 E92 N53B30 [10.00]	BBC reports that a deal has been secured to keep the team in the sport, although under new ownership with Renault holding a minority shareholding. Furthermore, the reports suggest that the cars will still be branded as Renaults despite the manufacturer no longer being the majority stakeholder in the team. Likely candidates for team ownership so far have been Gerard Lopez, a Luxembourg businessman, and Prodrive owner David Richards. Although the subject remains a speculative area, Renault could continue to hold a 25% share in the team after a final decision is believed to have been made in an executive board meeting on Wednesday. In terms of drivers, Robert Kubica has already joined although the second position remains vacant. __________________
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