Renault set to race on amid exit fears Thu, 05 Nov 08:26:03 2009 Shooting down speculation to the contrary, Renault's F1 managing director Jean-Francois Caubet insists a working budget for 2010 has been approved and the team will race in Formula One next year. Following the announcement of Toyota's departure on Wednesday, the Renault board met in Paris, triggering reports that the French carmaker could be the next to quit F1. But Caubet told the sports daily L'Equipe: "We have already contracted our drivers, had our budget approved and are enrolled in the world championship. Season 2010 has begun already." He said Renault CEO Carlos Ghosn has also laid out his expectations for Renault's 2010 season; that the team "returns to a good level". "We will not be world champions in 2010, but we do have hopes to be much improved," Caubet said.
I too hope they do well next year. The ast thing we need is another manufacturer pulling out after a string of bad results. P.s : driverS contracted already?
I wonder how Kubica feels after reading that his MD thinks they won't be Champions? He hasn't been happy with BMW's lack of ambition. I wouldn't be too surprised if he ends up as Lewis's team-mate. Kubica is more motivated and cheaper than Kimi.
I hope he's right but it wouldn't be the first time a team manager was blind-sided by the board if they do pull the plug. Just ask Dr T. at BMW.
+1. Ghosn is a hatchet. 'Returns to a good level' and 'we do have hopes to be much improved', might be oceans apart in translation.
I think they leave. Evaluting the Concorde agreement and check their options. Renault yet to decide on F1 participation Thursday 5th November 2009 - PlanetF1.com Renault have called for patience as the French manufacturer weighs up the pros and cons of following Toyota out of Formula One. On Wednesday, Toyota announced their immediate withdrawal from Formula One, citing the "current severe economic realities" for their decision. Hours later another team, Renault, appeared to be facing the same fate as the French carmakers held an extraordinary board meeting to discuss its future plans. And with the recent Singapore race-fixing scandal fresh in the minds as well as the two-year suspended ban hanging over their heads, many are predicting Renault will be the next team to walk away. However, Renault Chief Executive Carlos Ghosn has revealed that no decision was made on Wednesday, although one will be forthcoming before the year is out. "You will have to be patient," Ghosn told Reuters. "We will make an announcement on our participation in Formula 1 before the end of the year." Should Renault quit Formula One, they will become the fourth major manufacturer to leave, joining Honda, BMW and Toyota.
Agreed, it would be good to see Kubica competitive again and F1 does not need another big team leaving at this time.
You could be right on that. I read that their final decision will be made this coming weekend in a board meeting. The FIA is ticked off at Toyota and will throw the book at them for leaving like thieves. So Renault is much more careful in their approach.
I wouldn't be surprised if they were negotiating a buy-out of their contract with the FIA as we speak.
There is only so much the FIA can do. They can't compel someone to race who doesn't want to. And frankly, the FIA has only itself to blame.
Toyota signed the Concorde agreement. By leaving now they violated a binding contract. They will pay. Heavily. As they should.
Well, we haven't seen the contract so we don't know how binding it is - there are undoubtedly escape clauses, and I'll wager Toyota has and can afford better lawyers than the FIA. Besides, since the FIA is non-profit and has plenty of teams to fill the '10 grid, what could they possibly claim as their damages? It could only be stated damages, if that. If the team has less in assets than the fine, the FIA is screwed. Nobody can do anything to Toyota Motor Corporation - only the Toyota F1 team itself.
You are correct and that"s why they wont be leaving until 2012. What they will do is either sell the team and supply motors or completely sell the team and have nothing to do with it, but they will fund it. Its the similar situation with Honda, where they sold the team to Brawn, but the funding for this season came from Honda. Thats why you don't see any sponsor on Brawn.
I read that it is actually not the same as Brawn and they leave the sport entirely. They will give up their grid spot and not sell engines to anybody and pay a heavy penalty.
Renault has this uncanny ability to screw around till something breaks. Like a few years back when they said we'll think about returning and Alonso said "I wont". Carlos is trying to squeeze a few bucks here and there and he's going to loose the crew.
I wonder what kind of incredible waste goes on inside Toyota, BMW, and Renault F1 teams when they cannot find it economically feasible to run, with sponsors and in some cases national backing, when upstarts like USF1 and Campos without history can swing it.
A few things at play... 1) Campos and USF1 ain't on the grid yet 2) F1 is about promotion and branding... namely increasing the prominence and perceived quality of your brand. On #2, you want people to hold you in high esteem because you have done well on track. Do people consider Ferrari engines to be quality units and capable of running hard for long times? Yes, they do. The F1 image is a big part of that. However, if you are in motorsport and doing very badly, not only do you lose your perceived quality, but it can actually give you an image of perceived BAD quality. How would it look for BMW - a premier luxury brand - to be getting beaten by Manor? Or Minardi, et al? It would be really bad... it would be so bad that it would be better not to be competing than to be competing and making a fool of yourself. Winning can be worth hundreds of millions, losing costs you hundreds of millions (in terms of brand awareness). That is why you will never, ever see a manufacturer team content to make a minimal investment in F1 and run at the back. The big teams are chasing the hundreds of millions that they gain when they are winning in F1. If they cannot grasp that benefit, they will leave. When the FIA tries to change things up, they just keep moving the target around - making it even harder to justify the expense, when you never know if the money spent is even going to reasonably get you any ROI. Eddie Jordan got very rich off JordanF1, the whole time telling everyone who would listen that they were almost broke and needed rule changes to be able to stay in it. That's fine... but those guys are never going to be winning WDC's... they are just filler. I want more meat, less bread... not the other way around.
BMW is responsible for KERS. They wanted it and pushed it through and wasted tons of $$$. Toyota wasted a lot of its resources with a disorganized approach at F1 by having the car built in Cologne, the engine and management in Tokyo. Not sure Renault really wasted money in their operation, but they shot themselves in the foot with Briatore/Piquet Jr. Singaporegate. Add Honda to that list who were apparently incapable of producing a decent car for years, then run by a brilliant manager snatch the WDC. As the old saying goes: **** rolls downhill.
