F1 whispers doubt Renault future
The French carmaker's chief operating officer Patrick Pelata had suggested that enough has not yet been done to convince Renault that formula one is sustainable in the current era.
"We're seeking to bring down contract costs and receive more of the revenues", he said at the Geneva Motor Show, according to the financial news service Bloomberg.
"We want to remain part of the emotion and the spectacle of formula one, but there are really no taboos", Pelata added.
Ecclestone reacted: "I'm surprised he would come out and say something like that. We've got an agreement with the teams until 2013 and we'll stick with that."
Simone Perillo, a spokesman for the Formula One Teams Association (FOTA), confirmed that additional commercial revenue will be among the vision to be outlined at a press conference in Geneva on Thursday.
03/04/09 Formula One team Renault may leave the sport if it doesn’t get a bigger share of the sport’s commercial revenue, according to Bloomberg. Chief operating officer Patrick Pelata said that the carmaker must reduce its overall Formula One bill beyond the cost cuts agreed among teams in December, to stay in the sport. The team will seek to reduce its Formula One salary bill in addition to exploiting greater income from broadcast rights, circuit fees and trackside sponsorship.
“We’re seeking to bring down contract costs and receive more of the revenues" said Pelata said in an interview at the Geneva Motor Show. “We want to remain part of the emotion and the spectacle of Formula One, but there are really no taboos [if talks fail]."
The Formula One Teams’ Association will press its demand for a bigger slice of the sport’s revenue tomorrow in Geneva.
01/22/09 (GMM) Speculation has stepped up a gear that 2009 could be Renault's last season in formula one.
Team president Bernard Rey said this week that the Enstone based squad's parent Renault Group has pledged its support for "this year".
This comment was followed by whispers in F1 circles that team management may have informed the latest meeting of the FOTA alliance that Renault engines will not be available to customer teams beyond 2009.
Sources are also reporting that nearly 100 staff at Enstone will shortly be shed, ostensibly due to the newly installed cost-saving measures.
In fact, the sources said precisely 98 staff may now already have been given notice that their employ is to end.
The sources informed that the majority of the losses will be limited to both the test team and the aerodynamic department.