ING Pulls Renault F1 Sponsorship
Disgraced Formula One giants Renault have suffered another devastating blow when the team’s main sponsors severed their contract with immediate effect in another twist to the Singapore GP race-fix scandal.
Dutch banking group ING said that their three-year deal will be terminated after Renault were handed a two-year suspended ban following former driver Nelson Piquet’s claims that he had been ordered to deliberately crash at the 2008 Singapore race.
Former team principal Flavio Briatore, who quit the team in the aftermath of the crisis, was handed a lifetime ban when the FIA’s World Motor Sport Council met in Paris earlier this week.
“ING announced today that in light of the verdict of the World Motor Sport Council of 21 September 2009 concerning the events that occurred at the 2008 Singapore Grand Prix, ING will terminate the contract with Renault Formula 1 with immediate effect,” said an ING statement.
“ING is deeply disappointed at this turn of events, especially in the context of an otherwise successful sponsorship.
“As announced on 16 February of this year, ING decided not to renew the three year sponsorship (2007-2009) contract with Renault F1 and to end its presence in Formula 1 after the 2009 season.”
Another one of Renault’s sponsors, insurance company Mutua Madrilena, also terminated its deal with the team as a result of the crash scandal.
Earlier this week Renault announced the team expects to remain in the sport despite the controversy.
“Renault F1 and its parent company have given serious consideration as to whether it should remain in the sport following the prejudice caused to its corporate image by the conspiracy, in addition to the existing background of financial pressures that have caused car manufacturers to withdraw.
“But it has concluded that it would like to remain in Formula One and continue to make an important contribution to the sport.”
NOTE: The above image chould be the livery the team shpold display this weekend in Singapore, on the other hand it may just be a figment of my imagination.
You be the judge.
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Renault’s commercial future looks bleak, however serious cost cuts come into effect over the next two seasons, they might just be able to stay viable.
Well done to the Singapore trio! Wankers!
Nice photo shop job Marc. Maybe they will revert to a scheme similar to Honda’s “earth car” when their sponsorship evaporated.
I expect them to fall by the wayside competitively until 2011, when they will quit the sport, and possibly become an engine supplier only.
What I find even more interesting is the prospect of closer ties between Brawn & Mercedes. Ron’s road car venture may be at odds with Mercedes HQ’s long term plans, his latest beast does not have a Merc lump……..hmmm.