An insider has confirmed Auto123.com that Renault SA is determined to sell its Formula 1 team soon, and at least four potential bidders are currently in negotiations with the French car manufacturer to purchase the racing team.
David Richard’s Prodrive and Luxembourg investment fund Genii Capital of Gerard Lopez are two of the bidders. A third bidder is made of one former Formula 1 team director and a top motorsport executive.
“It is absolutely true that Renault wants to leave Formula 1 as soon as possible,” said the insider. “Renault would like to stay in Formula 1 but they can not afford it. It means the entire team or part of it must be sold right now, in time for the 2010 season.”
“Bernie Ecclestone is obvisouly fully aware of their intentions and he doesn’t want to see Renault humiliated any longer because the infamous crash-gate affair cost them dearly,” he declared to Auto123.com.
“Mr. Ecclestone certainly doesn’t want to see another car manufacturer quit Formula 1 after having seen Honda, BMW and Toyota pull out of the sport in such a short period of time. For those reasons Mr. Ecclestone fully support projects destined to save the Renault team. Additionally, the French car manufacturer could make an official return in Formula 1 in 2013 under a new set of engine rules.”
Our insider added that Renault need to sell all or part of the team. There are four potential bidders but two are being looked at seriously.
The final decision will be taken during the meeting of December 10.
photo:WRI2
David Richard’s Prodrive and Luxembourg investment fund Genii Capital of Gerard Lopez are two of the bidders. A third bidder is made of one former Formula 1 team director and a top motorsport executive.
“It is absolutely true that Renault wants to leave Formula 1 as soon as possible,” said the insider. “Renault would like to stay in Formula 1 but they can not afford it. It means the entire team or part of it must be sold right now, in time for the 2010 season.”
“Bernie Ecclestone is obvisouly fully aware of their intentions and he doesn’t want to see Renault humiliated any longer because the infamous crash-gate affair cost them dearly,” he declared to Auto123.com.
“Mr. Ecclestone certainly doesn’t want to see another car manufacturer quit Formula 1 after having seen Honda, BMW and Toyota pull out of the sport in such a short period of time. For those reasons Mr. Ecclestone fully support projects destined to save the Renault team. Additionally, the French car manufacturer could make an official return in Formula 1 in 2013 under a new set of engine rules.”
Our insider added that Renault need to sell all or part of the team. There are four potential bidders but two are being looked at seriously.
The final decision will be taken during the meeting of December 10.
photo:WRI2