Renault threatens to withdraw, the situation worsens

On April 29, the World Council of the FIA (International Automobile Federation) decided to introduce a budget cap for the next Formula 1 season. This decision led the Renault Group to reconsider its entry into the 2010 Formula 1 World Championship.

Today, the feeling of frustration is real. The FOTA (Formula One Teams Association) has made constructive proposals aimed at drastically reducing costs and implementing them progressively between 2009 and 2012. Built by FOTA members, the proposals have been ignored entirely by the FIA without prior consultation with the teams.

It must also be noted that the financial objectives set by the FOTA are identical, or even lower, than those of the FIA. However, Renault firmly believes that the process must be implemented differently and should first be accepted by everyone.

For Renault, it is extremely important that the administration of the sport is carried out in consultation with all concerned parties (FIA, FOM, FOTA) in order to ensure a better balance between income and expenses. Renault also believes that all competitors registered for the Formula 1 World Championship must operate under the same and unique regulations.

Bernard Rey, President of Renault F1 Team stated: « Renault has always considered Formula 1 as the pinnacle of motorsport and the perfect platform to demonstrate its technical excellence. We are still committed to the competition, but we cannot participate in a championship with a double regulatory level. If such a regulation is implemented, we will be forced to withdraw at the end of this season. »

Flavio Briatore, Managing Director of Renault F1 Team added: « Our objective is to reduce costs while maintaining the standards that make Formula 1 one of the most prestigious brands in the world. We want to achieve this objective in coordination with the sport’s regulatory and commercial entities, and we refuse to accept unilateral governance from the FIA. If the decisions announced by the World Council on April 29, 2009, are not revised, we will have no choice but to withdraw from the Formula 1 World Championship at the end of 2009. »

According to a statement from the Renault F1 Team