Spanish sponsor to leave Renault, F1

(GMM) Renault sponsor Mutua Madrilena intends to quit formula one at the end of this season.

The Spanish newspaper Diario AS on Thursday said the Madrid-based insurance company, until now pledging an estimated 3.5 million euros per year to the French squad, will not apply to renew its contract beyond 2009.

The firm entered F1 with Renault in 2005, following Fernando Alonso to McLaren in 2007 and then returning with the Spanish driver to Renault last year.

Official Ignacio Garralda confirmed that Mutua Madrilena will not be sponsoring any F1 teams in 2010.