Renault to decide on Formula One future before end of the year
The French carmaker Renault says it will decide by the end of the year whether to stay in Formula One following Toyota's exit from the sport. "You will have to be patient," the Renault chief executive, Carlos Ghosn, told reporters. "We will make an announcement on our participation in formula one before the end of the year."
Toyota announced this week it was quitting the sport, less than a year after Japanese rivals Honda pulled out and only days since BMW ran their last race. In another blow to the sport, the sole tyre supplier Bridgestone has also said it will leave at the end of 2010.
Renault won the 2005 and 2006 championships with Fernando Alonso but the Spaniard has now left for rivals Ferrari. The title sponsor ING has also departed, leaving a big hole in the team's budget.