The Renault F1 team has two potential buyers - and the firm's board is likely to decide which one to sell to next week.
The French car manufacturer's executive committee met in Paris yesterday to discuss the future plans for the team, ahead of a crunch board meeting next week.
It is understood to have decided to sell the team, and is now investigating offers from Prodrive and a Luxembourg investment fund, Genii Capital.
Autosport.com reports Genii Capital's plan is to take financial control of the team, but for it to remain Renault for at least another two years. The company would also fund the Renault driver development programme for young drivers.
CEO Carlos Ghosn is reported to favour this option for the future - especially because it has the blessing of Formula One supremo Bernie Ecclestone.
However, the current Renault F1 team management is believed to favour the bid being put together by Prodrive.
Prodrive boss David Richards' experience in motorsport is said to be key to his bid, and his plans would also allow Renault to withdraw from the sport immediately, remaining only as an engine supplier.
The decision could have a knock-on effect on the F1 driver market. Renault has signed Robert Kubica for 2010, but the highly rated Pole's contract could have conditions that allow him to leave if the team is sold. Mercedes, formerly Brawn GP, is said to be monitoring the situation with interest.
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Re: Rivals fight for Renault F1 team
After BMW and Toyota, now Renault...
Thank you M and B.
Thank you too the bankers for the crisis (I stop there may be bankers who read ;-)) and the spanish ones to allow Raïkkonen to go in WRC in 2010.I was afraid that news even before the crashgate. Carlos Gohsn ruled. It makes no sense.
And next year, Mercedes perhaps...
I think something has broken in F1 this year. And perhaps for ever.
The future is dark here in France. It is hard to build a new F1 track. We can not do anything here. With opposition justified or not. Long live the demagoguery.
Even historical tracks are threatened by residents recently installed (Clermont Ferrand :-()..
Thank you for having created an "autophobe" climate.
Re: Rivals fight for Renault F1 team
so Renault are trying to quit F1 after all. That will just leave Ferrari and Mercedes. I'm not sure why Prodrive wants an F1 team, as it seems to be a recipe for disaster. And what happens when F1 has no tyre suppliers. That will be fun.
Re: Rivals fight for Renault F1 team
I get the impression from the article that it IS Prodrive insisting on renaming the team. As for Bernie's motivation, I don't think it short-termism in the way suggested, so much as another kind in that Bernie knows how damaging 'ANOTHER MANUFACTURER QUITS F1' will be in the headlines. Even if they're not as well placed as Prodrive, being able to hold the press story that 'Renault' have quit F1 for a little longer is all he'll be thinking about. Either way I feel sorry for Kubica. The guy's a superstar and deserves better than a career with BMW and now Renault has given him.