Renault Sport
Renault has confirmed that it will cease to be an engine supplier in Formula 1, narrowing its future options in the sport.
Renault currently supplies Red Bull and Toro Rosso but the French manufacturer has confirmed that it is renegotiating its deals with the squads as it evaluates its future in the sport.
Renault will now either return as a full works team or withdraw from Formula 1 entirely.
"We said very clearly, it's finished," CEO Carlos Ghosn is quoted by Autosport on Renault's position as an engine supplier.
"We already alerted the Formula 1 authorities: 'Don't count on us as a provider of an engine. It's over'.
"We will honour our contracts, no problem, but the occasion of Renault as a developer and supplier of engines stops.
I think we are today renegotiating the contracts, so it's too early to say what's going to be the conclusion of the contract.
"We will either exit or run our own team. We don't have a clear decision yet."
