Renault Confirm F1 Quit Unless Budget Cap Revised

Renault are the second Formula One manufacturer to announce their potential quit from the sport if the FIA will not revise the voluntary budget cap rules for 2010. Following Ferrari's quit threat yesterday afternoon, the French car maker issued a clear statement today in which they confirm the revision of their F1 programme under the current budget limitation rules.

While announcing they will not enter the 2010 championship under the new regulations, Renault also made it very clear that FIA president Max Mosley should consult with the Formula One Teams Association (FOTA) and Formula One Management (FOM) before making such drastic changes in the F1 rule book.

“The decision of the Fédération Internationale de l’Automobile (FIA) to introduce two sets of Formula One technical regulations for the 2010 Formula One season has caused the Renault Group to reconsider its entry in next year’s FIA Formula One World Championship,” said the statement.

“There is frustration that FOTA’s constructive proposals, including major cost saving measures to be adopted progressively between 2009 and 2012, which were carefully constructed by FOTA members, have been completely ignored without any form of consultation by the FIA with the teams.”

“Renault also believes that it is paramount that the governance of the sport is coordinated with a spirit of consultation with all parties (FIA, FOM, FOTA) in order to achieve a better balance between the costs and the revenues. Renault is also of the firm view that all entrants in the World Championship must adhere to and operate under the same regulations.” added the statement.

“Renault has always considered Formula One as the pinnacle of motor sport and the perfect stage to demonstrate technical excellence. We remain committed to the sport, however we cannot be involved in a championship operating with different sets of rules, and if such rules are put into effect, we will be forced to pull out from next season,” commented Bernard Rey, President of the ING Renault F1 Team.

Team manager Flavio Briatore also stressed that finding the proper solutions to bring costs down to a minimum in F1 should be the result of constant negotiations between all parties involved, not only a one-way decision-making process handed by the FIA.

“Our aim is to reduce costs while maintaining the high standards that make Formula One one of the most prestigious brands on the market. We want to achieve this in a coordinated manner with the regulatory and commercial bodies, and we refuse to accept unilateral governance handed out by the FIA. If the decisions announced by the World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula One World Championship at the end of 2009,” added the Italian manager.