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Renault to reveal future on Wednesday
Renault will reveal plans surrounding its Formula 1 team on Wednesday,finally bringing an end to speculation surrounding the Enstone outfitsince the end of the season. With three car manufacturers having leftthe sport within the space of a year, Renault's Wednesday announcementis set to 'present the position' of the team in F1
Following an emergency meeting for Renault bosses three days after theseason-ending Abu Dhabi Grand Prix, rumours have continued to circulateregarding the future of the squad based in Enstone, with some sayingthat new shareholders could see the French marque reduce its stake inthe operation.
We see the whole environment as providing an opportunity," GerardLopez, founder of Mangrove Capital Partners and an early investor inVoice over IP (VOIP) technology Skype, explained at the Motor SportBusiness Forum in Monte-Carlo last week.
"The situation is suchright now that it provides an opportunity for new teams and newinvestors - it's not a time of uncertainty but a time of change; timesof change usually provide an entry point - we believe there is a chanceto enter the sport and build a platform that sort of has to reinventitself. If we were to become part of F1, we could be part of thatreinvention."
Prodrive Chairman David Richards has also beentipped as a possible investor in the team which re-entered F1 aftertaking over Benetton for the start of the 2002 season. The diamondmarque enjoyed double World Championship success with Fernando Alonsoand Giancarlo Fisichella at the wheel for both the 2005 and 2006campaigns. |
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Renault F1 to stay in Formula One after agreeing deal with Genii
Renault will stay in Formula One after selling a large stake in their team to Luxembourg-based Genii Capital.
"Renault has decided to maintain its commitment to Formula One and welcomes the perspective of a strategic partnership with Genii Capital, a Luxembourg-based firm specialised in new technologies, brand management and motor sport," it said.
"Following the proposed sale of a large stake of Renault F1 team to Genii, both partners will operate the team together.
"The letter of intent signed by the two companies should be concluded in early 2010."
The company said the team would stay as Renault and maintain the "core ingredients" that took them to championships in 2005 and 2006.
Renault, one of three manufacturers remaining in F1 after the departure of Honda, Toyota and BMW in the last year, will continue to supply engines to the British-based team as well as this year's championship runners-up Red Bull.
"I am delighted to welcome Genii Capital as our new strategic partner as I am sure that their enthusiasm and business expertise will create a new dynamic for the team, the staff, and our partners," said team president Bernard Rey.
"Altogether, we look forward to competing again at the highest level in Formula One.
"Today's announcement also confirms Renault's commitment and trust in the sport's governing bodies to improve the green credentials of Formula One."
Rey said Renault intended to use the sport to show off the company's skill in developing high-performance, fuel-efficient cars.
Genii capital's chairman is Gerard Lopez, whose technology investment company Mangrove Capital was an early investor in Skype.
His main rival to take over the Renault team was the Prodrive company run by Aston Martin chairman and former Benetton and BAR team boss David Richards.
"Together with Renault, we intend to run the team with the same values as any of our other investments, prioritising ambitious performance targets without neglecting cost efficiency," said Genii CEO Eric Lux.
"We strongly believe that on-track performance can be compatible with business performance, and we will use all our entrepreneurial spirit and commercial knowhow to achieve this goal."
Genii said they would also "explore opportunities for synergies between companies in its investment portfolio and the Renault F1 Team".
"Formula 1 has an extraordinary level of global awareness that can be used to develop new business-to-business opportunities in traditional and developing markets, and there are exciting new revenue streams to be explored," said Lopez.
Reuters |
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nampaknya 2010 akan jadi ferrari vs mercedez vs renault  |
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sekali lagi richard kalah nak masuk F1..kesian kat dia
apapun bagus gak renault stay |
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1044# weta_studio
rugilah kalu idak leh tgk satu lagi manufacturer, aston martin |
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maybe richard tak perlu beli F1 team tapi lebih kepada teknikal partner
maybe sebagai supply engine utk F1 |
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lege aku bile dapat berita
renot tak jadi kuar.... |
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agaknye kalo richard beli renot pun bagus gak kot....
pastu wat team aston martin....
agak2 ok tak? |
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1048# akughi
entahle akughi...better aston martin tak masuk |
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kenape pulak lebih elok tak masuk? |
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ya la....kereta dia pun buat kat austria...bukan kat england.... |
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maybe richard tak perlu beli F1 team tapi lebih kepada teknikal partner
maybe sebagai supply engine utk F1
weta_studio Post at 21-12-2009 10:50 AM 
richards mana ada factory keta, dia cuma ada tim lumba saja, aston martin tu consortium UAE punya, jadi dia nak masuk f1 kena lah ada tim f1 sendiri, nak ada tim sendiri kena ada spot tim f1, spot tu cuma 13 tim aja yang diluluskan sebab bmw tak apply ari tu, jadi dia kena beli tim 13 tu yang nak dijual le jawapnya |
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lege aku bile dapat berita
renot tak jadi kuar....
akughi Post at 23-12-2009 10:21 AM
ko pedulik hape ngan renot, kan ke ko sapot ferrari musim depan  |
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ya la....kereta dia pun buat kat austria...bukan kat england....
hyphrigian Post at 23-12-2009 11:45 AM
haku stuju prodrive tak masuk f1 sebab wat nyemak je tim tak cukup duit nih |
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1052# ShadowChaser
konsortium dari kuwait bukan dari UAE
aku ingat richard owner dlm aston martin |
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aku masih menghabiskn sisa sisa sokongan aku
tuk thn 2009... ape2 pun aku tetap akan meninjau
perkembangan renot |
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Bye renault.... selamat tinggal renault.... selamat kembali ferrari..
kenangan bersama renault susah nak di lupakan...
bye...... |
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Bye renault.... selamat tinggal renault.... selamat kembali ferrari..
kenangan bersama renault susah nak di lupakan...
bye......
Yo-Ya Post at 1-1-2010 08:10 AM
mana derang pegi  |
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Kemali menjadi contraction champion dan WC... hehehhe |
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Post time 16-12-2009 10:26 AM
Author
