Renault loses major F1 sponsor

UPDATE This rumor is upgraded to 'fact' today. See Hot News page about Telefonica sponsorship move.

01/18/07 (GMM) Telecommunications giant and major Renault sponsor Telefonica has left the French team.

Enstone based Renault's interim livery is currently running without reference to the Spanish company, but also missing are the logos of new title sponsor ING.

But it has now emerged that Renault is simply holding off the ING presence until the brand new livery is unveiled in Amsterdam this week.

Existing or renewing sponsors including PVAXX, Elf and Hanjin, meanwhile, remain displayed on the current paint job.

Telefonica's departure, which could leave an estimated $30m hole in the 2007 Renault budget, might be linked with world champion and Spaniard Fernando Alonso's switch to McLaren, where he is now sponsored by communications rival Vodafone.