Carlos Ghosn asks the teams for more revenue

Renault CEO, Carlos Ghosn, believes that the FIA is not the only organization in F1 that should make compromises in the cost-cutting dispute. He is asking the sport’s leaders to offer more revenue to the teams.

With the FIA set to announce tomorrow the list of entrants for the 2010 championship, Ghosn believes that it is time for a greater share of the commercial rights revenues to be returned to the participants in the premier category of motorsports.

Speaking Wednesday to the French National Assembly, Ghosn urged F1 boss Bernie Ecclestone to reform the structure of its payments.

« We put on the show, bring the technology, bring the engines, and hire the drivers. If you look closer, the Formula 1 revenues should come back to us, » he told the AFP news agency.

He added: « Today, we paid to be in Formula 1, it is not normal. We want to take back control of Formula 1. »

According to the latest information, Renault is committed to reducing its costs. Consequently, this will lead to the closure of its factory for two weeks in August.

In a first letter sent to the French team’s suppliers, it was confirmed that there would be a factory shutdown from August 3 to 16. As a general rule, teams as a whole will be required to do so to ensure their cost-cutting plans.

In a second letter, Renault confirms the position adopted by Flavio Briatore and Bernard Rey on May 13 when the team threatened to leave F1 if they are not satisfied with the upcoming regulations. This threat will be executed otherwise.

« The numerous changes in the Formula 1 Championship, both in sporting and technical aspects, are leading Renault Sport to reconsider its long-term presence. »

« In the face of these challenges, Renault Sport must not only significantly reduce its activities, its budget, and consequently, its list of suppliers. Yet, in the worst case, as mentioned by Bernard Rey and Flavio Briatore on May 13, a withdrawal from the Formula 1 World Championship in 2010 is possible. »

« Given this context and in the interest of compensating for a potential decrease in our revenue, you should adopt the measures you deem most appropriate to ensure the continuity of your business, such as seeking other clients or markets. »

These last words are taken from the second letter addressed to the Renault team suppliers.