Renault set for financial windfall as 'historic' team

Speculation has been rife lately regarding the future of Renault in Formula 1 as the French manufacturer ponders whether it should remain in the sport as an engine supplier, take over an existing outfit or pull out of F1 all together.

Renault has struggled since the inception of the current hybrid engine rules, failing to produce a competitive and reliable power unit capable of competing with Mercedes' dominant engine.

Consequently, its relationship with its main partner Red Bull Racing has suffered this season with the Milton Keyes outfit falling victim to Renault's engineering woes and questioning its own involvement in the sport.

As the French manufacturer conducts a strategic review of its F1 prospects, a vital incentive may just convince Renault to remain in Grand Prix racing, and to do so with its own full works team. Considering its history in F1, Renault would see its status change from engine manufacturer to 'historic team', a move which would bring significant financial benefits.

Currently, five teams ( Mercedes, Red Bull, Ferrari, McLaren and Williams) receive additional payments from Bernie Ecclestone's FOM as the commercial rights holder distributes 65% of F1's revenues to the qualifying teams, with 15% of that amount going to the top 5 manufacturers in the form of a premium paid in exchange for their commitment to remain in the sport until 2020.

Speaking to Autosport, Bernie Ecclestone confirmed Renault would be eligible for extra monies if it chose to become once again a full works team.

"If they take over Lotus and do exactly what Mercedes and Red Bull did, that would be it, so yeah, sure. They [Renault] have talked about perhaps taking over Lotus, so there is a way in for them, and we'd love to have them on board."

A unanimous vote from all the teams approving the scheme would be required however. But Renault's current partners, Red Bull and Toro Rosso could find themselves without an engine should the manufacturer decide to field its own team, and subsequently block any vote in favour of Renault receiving a premium payment.

Renault Sport's managing director Cyril Abiteboul, also speaking to Autosport, said he would welcome any financial recognition of the company's merits in Formula 1, but also insisted that proper overall funding was a prerequisite for Renault's potential involvement as a fully fledged team.

"One thing we need to be mindful of, and is part of the evaluation we are doing - which is a constant evaluation - is to make sure there is sufficient financial resources in place to satisfy the expectations at the top level."

"Given the legacy we have in the sport, any project of Renault in Formula 1, would have to be a top-performing one. Any financial recognition of the value of Renault in Formula 1, not just as an engine supplier but more specifically as a team, is clearly going to assist.

"It's not just money which is a crucial element in Formula 1, because there are always other issues to deal with, but certainly money is necessary."

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