Renault To Leave F1

[Insider 0]

It would appear that recent stories citing further lay-offs at Enstone, and the Renault manufacturing base in general, bear the mark of truth. I am reliable informed by former colleagues that the team will withdraw from F1 in 2010 and customer engine manufacture will cease as of that date too. It has nothing to do with Nando's body weight - the world recession just has to get a lot worse before any recovery will be seen - it's the nature of such things.

Despite the cost-cutting initiatives introduced by FOTA and FIA, we are still talking in terms of many millions of pounds having to be found each year for teams to go racing. Suitable sponsors are falling like flies in a rainstorm. Bernie is hanging on to his millions for dear life as he awaits a hurricane of protest from TV broadcasters and his 'creme de la creme' race tracks are threatening closure. I fear that depite their 'bulldog' approach, Williams will fall victim to the crunch. I feel Toyota is a firm candidate too. STR will have to go, as will others and a 10-car grid looks like a real possibility for 2010. That won't work for anyone.

Honda was the best 'start-up' opportunity in the history of the sport and though many sniffed around no one has bitten the bullet. It had all the hallmarks of a bargain but the running costs were daunting in a fiscal climate where the future is disaster-laden, at best. Basically, advertising in such a medium appears frivolous to shareholders and as budgets are mutilated, the 'money' will stay right were it currently resides; for a very long time to come, I fear. The entire sport is at risk. We should savour this 2009 season - it may be the last for some time.

[HandyNZL 1]

Thats all a bit doom and gloom. You trying to talk F1 out of existence?

Renault always said that they would stay so long as they were winning, which they hardly are at the moment, and maybe someone high up there already knows that if they design a car that looks like the back end of a Shnauzer, then it will probably perform like one too.

Also, don't the dates correlate to Flavio saying "so long, suckers..." too?

[Insider 0]

Thats all a bit doom and gloom. You trying to talk F1 out of existence?

Renault always said that they would stay so long as they were winning, which they hardly are at the moment, and maybe someone high up there already knows that if they design a car that looks like the back end of a Shnauzer, then it will probably perform like one too.

Also, don't the dates correlate to Flavio saying "so long, suckers..." too?

It was a gloomy post but no-one would want to see F1 go down the tubes less than I do - apart from music, it's the one thing that keeps me sane! Teams need to get real though. There is so much waste out there, believe me. They can race with half the staff and 'circus' trimmings like phenomenally expensive motor-pavilions and such. We had two beaten-up Winnebagos with threadbare seats, left over from the Arnoux era, when we entertained Europa Cup sponsors at F1 Support races over twenty years ago. OK, it is the pinnacle of the sport but it is far more dangerous for investors and sponsors now that it is for drivers and teams should take a hard look at what they pay these guys to pilot their hardware. The sums are not quite as obscene as those seen in Premier League football but they're close. No, my friend, I am not trying to talk F1 out of existence but if extreme and brutal measures aren't taken by the rights holder, regulator and competitors now, I feel implosion is imminent.

[DOF_power 0]

>

^ I need a reliable source for this.

[cavallino 2]

This is old, the prophet already predicted this ages ago, it is not deserving of a new thread, even if you argue that you came to conclusion independently (a claim I doubt considering how people lay claim to my powers).

[Quiet One 15]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

(Not that I would be too surprised, anyways. I am amazed they lasted so long this time. Renault's commitment with F1 was always erratic.)

[cavallino 2]

Renault and Alonso are fickle, just like their fair weather fans, they will just find some other coattails to hang on to.

*waits for the loud one to suddenly become a Mclaren-Lewis fan*

[Insider 0]

>

^ I need a reliable source for this.

Don't we all, my friend. I only report what I hear from people I trust. I cannot vouch for what they hear. However, the ING story: http://en.f1-live.com/f1/en/headlines/news...126113410.shtml may be on the same site but the source is Bloomberg and it doesn't help Renault's cause.

[aussief1 4]

The time may have come for Bernie and his mates at CVC to give a little back to the teams in order for them to see out this financial crisis. Surely a couple of years directing the income towards the teams in order to ensure the long term future of the sport as a whole would convince his mates at the bank to do so. As i've said before its better to have a little bit of something rather than alot of nothing.

[Insider 0]

This is old, the prophet already predicted this ages ago, it is not deserving of a new thread, even if you argue that you came to conclusion independently (a claim I doubt considering how people lay claim to my powers).

Good for you.

[Insider 0]

The time may have come for Bernie and his mates at CVC to give a little back to the teams in order for them to see out this financial crisis. Surely a couple of years directing the income towards the teams in order to ensure the long term future of the sport as a whole would convince his mates at the bank to do so. As i've said before its better to have a little bit of something rather than alot of nothing.

I agree - but he won't.

[aussief1 4]

I agree - but he won't.

Yup its a sad state of affairs isn't it. Greed will get the better of them in the end. But sadly millions of fans the world over also pay the price.

But its all not happened as yet, so lets live for today and enjoy a great 2009 season.

[Quiet One 15]

[quote name='cavallino' post='281238' date='Jan 26 2009, 09:08 AM']Renault and Alonso are fickle, just like their fair weather fans, they will just find some other coattails to hang on to.

*waits for the loud one to suddenly become a Mclaren-Lewis fan*[/quote]
You wish!

BTW, have you noticed how beautiful the 2009 Macca is? And Lewis is just soooo cool! Like I always said!

Seriously, the loss of Renault would be worse than losing Toyota, Honda, STR and Red Bull together. Why? Because Renault have given more to F1 than all those teams through its history. They've given more to F1 than McLaren, actually.

[Max Mosley 2]

Renault and Alonso are fickle, just like their fair weather fans

So true.

[Insider 0]

Yup its a sad state of affairs isn't it. Greed will get the better of them in the end. But sadly millions of fans the world over also pay the price.

But its all not happened as yet, so lets live for today and enjoy a great 2009 season.

Abso****inglutely!

[Schumikonen 2]

The time may have come for Bernie and his mates at CVC to give a little back to the teams in order for them to see out this financial crisis. Surely a couple of years directing the income towards the teams in order to ensure the long term future of the sport as a whole would convince his mates at the bank to do so. As i've said before its better to have a little bit of something rather than alot of nothing.

I agree and I also agree that he won't do it until he sees there is no other way to proceed.

[Schumikonen 2]

Yup its a sad state of affairs isn't it. Greed will get the better of them in the end. But sadly millions of fans the world over also pay the price.

But its all not happened as yet, so lets live for today and enjoy a great 2009 season.

we are already paying the price, we should be enjoying the tests by now and talking about who's faster and complaining that times don't matter in test and all that sort of things but now we have limited test and a 2009 season with no test at all so we are having less F1 now, having just races with long empty weeks in between.

[Schumikonen 2]

You wish!

BTW, have you noticed how beautiful the 2009 Macca is? And Lewis is just soooo cool! Like I always said!

Seriously, the loss of Renault would be worse than losing Toyota, Honda, STR and Red Bull together. Why? Because Renault have given more to F1 than all those teams through its history. They've given more to F1 than McLaren, actually.

Probably but Mclaren have been in F1 even when Renault wasn't there as least as a team.

[cavallino 2]

You wish!

BTW, have you noticed how beautiful the 2009 Macca is? And Lewis is just soooo cool! Like I always said!

Seriously, the loss of Renault would be worse than losing Toyota, Honda, STR and Red Bull together. Why? Because Renault have given more to F1 than all those teams through its history. They've given more to F1 than McLaren, actually.

If you knew your Eastern philosophy, you would know there is good chi and bad chi. The departure of Don Dennis has given F1 a lot of good chi to spare, I think F1 could survive the loss of Renault, Toyota, Red Bull, Tamara Ecclestone , 10 videos of Max, Bernie, Todt and Alonso indulging in a bit of good natured spanking and a nuclear explosion.

[aussief1 4]

Ecclestone offers teams new deal

26 January 2009

Bernie Ecclestone has offered car manufacturers involved in F1 a new deal which includes greater financial freedom in exchange for their long-term commitment to the sport.

The offer comes following Honda's demise and the ongoing discussion between FOTA and Ecclestone in which the teams are asking for a greater share of the revenues generated by F1, especially in the current economic climate.

"If the manufacturers are prepared to make a long-term commitment, say seven to ten years, we should let them spend what they want to, providing they supply engines and gearboxes at an affordable price," Ecclestone told the Daily Telegraph.

"It would prevent the kind of thing we've seen with Honda because we could sue them if they left," he added on how his plan would help secure the sport's future. "They wouldn't like that. Whether they will commit to that I don't know. Getting them to agree on anything has always been the problem."

Source: gpupdate.net

[aussief1 4]

I can't see any major car maker involved in F1 that would be willing to sign a contract to stay in the sport for a period of seven to ten years. Maybe one, two year contracts are a slim possibility but seven to ten years is just crazy to even suggest given the current circumstance. Bernie once again is being unreasonable in this latest effort to prevent teams walking away from the sport.

[Rainmaster 7]

It is unreasonable but I can understand Beanie's position.

Excuse me if I take the Renault rumours with a pinch of salt! I will wait and see.

[Max Mosley 2]

Getting them to agree on anything has always been the problem

Yup. The teams are always the problem.

[Argento Reloaded 1]

After the crisis

[Rainmaster 7]

ING to cut back on F1 sponsorship

By Jonathan Noble Monday, January 26th 2009, 15:07 GMT

Renault title sponsor ING has announced that it is to cut back on its sponsorship spending in Formula One as a result of its financial troubles.

The Dutch-based company says it is expecting to make a loss of 1 billion Euros for 2008 as a result of the worldwide financial crisis. In a bid to make up for the losses, it has announced a widespread cost cuts programme - which will include laying off 7000 people.

In a statement issued by the company on Monday, it confirmed that one of the measures to be implemented would be a reduction in its F1 sponsorship programme.

"ING will cut operating expenses by EUR 1 billion in 2009," said the statement. "The structural expense reduction will lead to annual savings of approximately EUR 1.1 billion from 2010 onwards. Of the cutback, 35% will come from a reduction of the workforce by approximately 7000 full-time positions in 2009.

"The remainder of the expense reduction comes from decreasing costs for our head office, marketing, the Formula One program, consultancy, third-party staff and the renegotiating of certain contracts with IT-vendors. Of the total expense reduction, EUR 650 million will be realized in Banking and EUR 350 million in Insurance."

As well as being title sponsor of Renault, ING has also paid for trackside advertising and was the official race sponsor for last year's Australian, Belgian and Hungarian Grands Prix.

This year, the company is to sponsor the races in Australia, Belgium, Hungary and Turkey.

Jan Hommen, Chairman and CEO-designate of ING, said about ING's future plans: "Naturally, I am disappointed with our results in this extremely tough environment. With the continuing challenging outlook, we feel it is important to take additional action to decrease our risks and expenses.

"We sincerely regret the impact that some of the measures we are announcing today will have on our colleagues, but these steps are essential to adapt our organization to the new business environment."

http://www.autosport.com/news/report.php/id/73002

Maybe, baby.