GPWEEK understands that Renault will remain in Formula 1 in 2010, despite an emergency meeting of the company?s bosses to discuss the future of the F1 project last week.
It was widely reported that Renault was on the verge of quitting the sport in the wake of Toyota?s decision to quit F1 last week, but Renault President Carlos Ghosn reported positively after the conclusion of the meeting. ?We will let the season develop normally,? he told reporters. ?I do not want to disrupt the current season with any statements from us. I can guarantee you that before the end of the year we?ll make an announcement about our strategy for competing in Formula 1.?
The reference to the current season cannot refer to 2009 as the championship has already run its course. As such, one must assume that Ghosn is referring to 2010 and that any decisions the team has to make will be about its involvement in 2011 and beyond, with numerous investors already believed to be waiting in the wings to take on the team.
Renault?s interim Managing Director Jean-Francois Caubet told France?s L?Equipe: ?We have already contracted our drivers, had our budget approved and are enrolled in the World Championship. Season 2010 has begun already.? Those drivers are Robert Kubica and, we understand, Timo Glock, and it was in Abu Dhabi that Renault announced a new long-term sponsorship deal with watch brand TW STEEL. It is widely believed that TW STEEL?s faith in Renault has been sufficient to convince Renault?s ultimate bosses of the green shoots of recovery in the team?s reputation following the Singapore Grand Prix scandal.
With new sponsors, two of the best young drivers in the sport and a new return to the core values of the Renault F1 team, a total pullout at this juncture thus makes little sense.