So, There Was a Point to the Renault Board Meeting?
Renault held a board meeting on Wednesday to discuss whether to continue in Formula One just hours after Toyota confirmed it was pulling out with immediate effect.
The end result after the high Muckity-Mucks were finished with their Lattés?
They kicked the can, or refueling rig if you prefer, down the road.
Renault chief executive Carlos Ghosn on Thursday called for patience as there will be no immediate decision.
“I can assure you before the end of the year we’ll announce our strategy regarding the participation of Renault in Formula One,” Ghosn told reporters in France.
In a previous statement by Managing Director Jean-François Caubet, it was suggested that Renault was staying put in F1 and has defined their budget as well as signed their drivers for the 2010 season.
Renault’s signing of talented Polish driver Robert Kubica and rumors linking them with German racer Timo Glock seem to lend some credence to Jean-François Caubet’s words.
On the other hand, due to the effects of the global economic crisis, the team also lost primary sponsor ING, and another of its major backers in Mutua Madrilena. Star driver Fernando Alonso, who has spent four of the last five years with the team, is also on his way out after signing for Ferrari for 2010.
The mixed signals coming out of the board meeting lead me to think a delay in the decision process may be linked to “concerns” issued by the FIA over the departure of Toyota.
In layman’s terms that means call your lawyers to ensure their retainer fees are up to date.
Both Toyota and Renault are signatories of the new Concorde Agreement that legally ties them to sport until December 31, 2012. Common sense, and “corporate sense” for that matter, dictates caution from Renault’s movers and shakers.
As it stands now I’d guess, and it’s purely a guess, Renault will ultimately choose to stay based on 35 GP wins, two constructors championships and two drivers championships the marquee has gathered in 32 years of competition.
That’s opposed to the departing Toyota whose presence in F1 has stunk on ice, at least Renault as some success to point to when the final decision is made.
Assuming the FIA’s legal beagles don’t make it for them.
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How confusing, either you are in or you are out. Are they stalling to gain time in order to sell the team? This would make sense as it would be a waste to just close the whole thing down & pay everybody out. Robert Kubica must feel foolish, he found out about BMW’s exit in the newspapers & his new employer is jerking him around until Xmas.
If Renault pull out, where does this leave Red Bull regarding engine supply, or will the French remain as an engine builder? If they do go Ferrari & Mercedes (less new boy Cosworth) will be supplying the entire grid of existing teams, even the “no grid slot” Sauber team plans to use a Ferrari block.
I wonder how much Frank Williams knew, or had surmised, about Toyota’s retreat, he knew enough to go & find a new engine.
It’s damn obvious what Sir Frank knew. Switching engines isn’t a fly by night decision, he must have had a clue.
As far as Robert Kubica goes, well, his greener pastures may contain more cow dung than opportunity.
“The Knife” has probably given the Renault team until the end of the year to either:
1. Find a fully funded team sponsor and pay co-driver to Kubica, or some combo therein;
2. Find a buyer for the team;
2. Find a way to divest the team and remain as an engine supplier only.
Carlos Ghosen may have a reputation as ruthless, but he’s hardly a fool regarding company assets. He will fold the tent as opposed to giving away the team ala Honda.
S far as the lawyers are concerned, a first year law student could find enough loop holes regarding FIA promises and cost reductions to avoid any legal repercussions cleanly. Especially because there are “So Many” teams waiting to enter a cost regulated F1. Right Max?
As far as Max goes, anyone want to venture a guess on an over under as to how long it will take for Max to make a major statement concerning F1? Before or after December 30. My guess is under, as soon as Renault announce their F1 escape plan.
I’ll vote option number 2. Mainly because I saw a couple stories saying there was no intention to sell the team outright.
On the other hand they also gave every indication they would race in 2010 and we see how much that was worth.
My gut says they wont pull out but will look at some of the options George has listed. Being only an engine supplier is now very attractive.
Red Bull are on the books as a customer, a former Renault team would follow. Look at how Mercedes is positioned as the engine of Brawn, McLaren & Force India.