Renault F1 to Announce Sellout on Wednesday

After BMW and Toyota, a 3rd manufacturer will leave the Formula One Championship, despite the fact that its name will live on in the series. We're talking about French car maker Renault, who will reportedly announce the sellout of their F1 operations to a private investor on Wednesday.

As showed by several media reports recently, the French manufacturer was contemplating their withdrawal from the championship for a long time, with no less than 4 bids placed by several investors for the buyout of their Enstone facility. It seems the candidate fight has come down to only two investors, namely Gerard Lopez and David Richards.

According to Le Parisien newspaper, the board of directors was the entity that decided on those 2 bidders as being the finalists in the sellout process, but it will be Ghosn to decide on who will be the lucky one. Reportedly, that choice was already made on Monday, while a deal is to be signed later today. Finally, a statement for the press will be made by Renault on Wednesday.

Team boss Bob Bell is said to have addressed staff about the takeover at the Enstone headquarters last Friday, clarifying that Robert Kubica is still lined up as the lead driver,” said a report from the GMM news agency, citing the aforementioned newspaper.

The team will continue to be called Renault for the next two years, with the carmaker to continue to own the Viry-Chatillon headquarters in order to remain an engine supplier to customer teams like Red Bull,” added the report.

As far as Renault's second driver for the 2010 season is concerned, there are some information suggesting that Kubica's former colleague at BMW, Nick Heidfeld, is in pole position for securing the drive.
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