Red Bull signs Renault deal
Renault's Formula One president Alain Dassas said: "It is positive for Formula 1 to have another team racing with a top-line, competitive engine, and this agreement will also reinforce Renault's presence in the sport.
"We look forward to working with a dynamic, ambitious company such as Red Bull."
Red Bull owner Dietrich Mateschitz said earlier this week that a deal had been done with Renault, but the defending world champions were reluctant to comment on the situation themselves until today.
The energy drinks manufacturer currently own Red Bull Racing and co-own Scuderia Toro Rosso with former F1 driver Gerhard Berger – a close friend of Mateschitz.
It is yet to be decided which team will receive the French powerplants.
09/09/06 Seen visiting the Toro Rosso offices in Monza on Saturday night were two Renault engine men – and indication that we may be seeing the French V8 engines in the back of the Italian cars next year, leaving Red Bull Racing to spend another year with Ferraris. Grandprix.com
09/09/06 Red Bull team boss Christian Horner is trying to honor his two-year Ferrari engine contract through the sister Scuderia Toro Rosso squad, claiming such a move would 'make sense'.
"Obviously there's another team that Red Bull has an interest in now, an Italian team, and obviously it would make sense for that team, with an Italian driver and an Italian engine, that there's a natural synergy there, but that requires consensus with all parties involved and we will no doubt reach a conclusion on that in the very near future.
"Basically, as I say, we entered into a two year agreement with Ferrari. If that agreement has the possibility of being assigned, then it's something that obviously we will investigate that would potentially pave the way to put a different engine in the back of a Red Bull Racing car next year."