Formula One news

Renault exit threat fades

Having threatened to make an exit from Formula One, the Renault team's future in the sport is now confirmed until 2012. With the original message having come from Chief Operator Officer Patrick Pelata on Wednesday, an announcement on Thursday from Team Principal Flavio Briatore dismissed the rumour.

"I believe that from day one with Renault I was always very worried about the costs," the Italian said at the Formula One Teams' Association (FOTA) press conference in Geneva. "What's happened with FOTA is exactly what Renault had wished for with F1. We have the commitment from Carlos Ghosn (Renault President) saying that if the more efficient F1 does happen, we will stay until 2012."

Reflecting on Wednesday's comments from the Chief Operating Officer - who said that the French team would pull out of the sport in the event of no immediate cost-cutting solutions being found - Briatore added: "What Mr. Pelata said is quite normal, and we need to have a balance between income and expenses. What he said at that moment is very normal and I don't think it is particularly special."

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