Renault will continue in Formula One next season after a deal was reached to sell a 75 per cent stake to an as yet unnamed party.
The BBC reports that the team will keep the Renault name for next season, with the French manufacturer keeping the remaining 25 per cent stake in the team.
Renault is set to confirm the sale later, with Luxembourg businessman Gerard Lopez tipped to be revealed as the team’s new owner. Prodrive was the other frontrunner, while Bernie Ecclestone claimed a further two parties were interested in buying the team.
Renault held an emergency board meeting last month to discuss its future in the sport following Toyota’s pull-out and the results of that meeting have still yet to be revealed.
The team had signed Robert Kubica as its lead driver for next season to replace Fernando Alonso, but it is understood the Pole has a get-out clause should the team be sold.
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Re: Renault sold and will stay in F1
I hope not.They have no chance unless they get a decent team manager.
Re: Renault sold and will stay in F1
IMO it should have been Prodrive. But Renault doesn't want to sell the team then sit back and watch someone else make a success of their investment - like Honda had to this year. So if they keep their name in, it doesn't look like they ran off, so there's no negative publicity. But are the rumours that Craig Pollock will be team boss true?
Re: Renault sold and will stay in F1
yes we all need a 'get out' clause.