More globally, the Grand Prix environment has changed with the arrival of Liberty Media. What is Renault's vision for the future of F1?
We are mulling over these questions as we enter our 40th year in Formula 1. Formula 1 is very complex, and we believe Liberty Media will gradually realise that things are not as simple as they may seem and that Bernie nevertheless did some good things, even though the most recent agreement between the FOM and the teams is bad, like he has admitted on occasion.
Without going into detail, we want a certain number of things. Firstly, F1 has to remain a spectacle. Secondly, there has to be a balance between cost and value. It is not just a question of expenditure but value. If F1’s value grows significantly, we can justify the cost. To have a show, competition must be tight and the races must be competitive. However, a different distribution of revenue is needed. Renault is roughly mid-pack in terms of revenue distribution. We are not at the bottom of the ladder, but we are far from the top. Thanks to our partners, we are in a comfortable position.
If changes happen, the better-financed teams could lose a bit. We are not opposed to those less financed receiving a little more. On this point, I learned a lot during my time with Caterham. If you think about the teams that arrived at the same time [Virgin and HRT], none no longer exist today, despite the fact they were led by competent people like Graeme Lowdon. The business model simply didn’t work. I spent 80% of my time looking for a way to pay salaries. At Renault, I understand every day what a chance I have to the commitment of a major constructor.
Thirdly, Formula 1 must ask itself if it wants to be representative of the automobile industry. I was at the Geneva car show, and it was all about electric cars. The stands had a lot of Formula E exposure and very little Formula 1. Is this a matter of concern or not, as part of this reflection on the relevance of F1 compared to the road car? We think a lot about this question in-house. Either F1 remains in its current format of being very expensive or it returns to simpler cars with lower costs. F1 needs to reinvent itself, by choosing a direction, and we will be there to make our contribution, on the occasion of our 40 years in Formula 1.
