Renault's most likely moves are to own a team or quit

Renault CEO Carlos Ghosn has stated the French manufacturer is keeping its options open regarding its future in Formula 1, but any decision would also be highly dependent on the direction of the sport's governance.

As the engine supplier to Red Bull Racing and Toro Rosso, and given the manufacturer's current troubles on the performance and reliability front, Renault's involvement beyond 2016, when its contracts expire, has been the subject of speculation for several months now.

Speaking over the weekend at the last round of the new Formula E series in London, Ghosn admitted Renault's sustained presence at the pinnacle of motorsport was still uncertain.

"When you are a developer and seller of engines, you have the privilege to be forgotten when you win and to be highlighted when you lose," the manager told Reuters.

"We are not discarding anything. We can be out. We can, less likely, continue to be only an engine developer. Or we can own a team. So all the options are open. And we are analysing all the different options for the future."

Interestingly, Ghosn also addressed F1's current state of affairs, linking his company's decision on F1 to more clarity on the sport's future commercial direction.

"We need to try and understand where the governance of Formula 1 goes before we decide what way we want to take. The governance of racing is extremely important. It's not about who does what, that's not our issue. Our issue is we come and know exactly how much we spend and invest."

And for Ghosn, any continued presence will implicitly depend on the manufacturer's potential return on investment.

"We know how much we can be sponsored through marketing, but also there is a sharing of the TV rights which needs to be in a certain way following a more rational track where people who are investing the money and making the show can get a fair return on this investment."

"The question is 'Is it worth it?' You are engaging hundreds of engineers, putting in millions of euros and deviating a lot of your technical resources. You need a return."

Click here for FIA President Jean Todt's thoughts on the current state of F1

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