Renault considering withdrawal from Formula 1

By on Friday, March 27, 2015
Renault Sport

Renault Sport

Renault managing director Cyril Abiteboul says the company could pull out of Formula 1.

Abiteboul was asked whether the company was considering buying Toro Rosso - which is currently supplies with power units - but the Frenchman suggested that it could go in the opposite direction and withdraw from the sport.

"I can confirm that we are looking at a lot of options, including getting out of Formula 1," he said.

"Honestly, if Formula 1 is that bad for Renault's reputation, if we see that we struggle with the current formula, if Formula 1 is not delivering value what it costs Renault, bearing in mind that when you are an engine supplier you have no financial incentive to develop and to fund engine development.

"So this is what we are looking at, and obviously we think that we are a credible player in the sport but we want to compete amongst the best brands and that Formula 1 is good for meet and plan as a brand, then we need to think about what else can we do to what we are doing and if you do that, this is an open market, we have the capacity to have discussions with lots of parties."

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