Max Mosley proven right again as yet another manufacturer jumps ship UPDATE (GMM) In a meeting on Thursday, it is believed the French carmaker Renault decided to stay in formula one in 2010 but sell the majority of its Enstone based team.
France's Auto Hebdo reports that while a board decision was indeed taken on Thursday, an announcement is not expected for "several days".
In Britain, news of the sale decision was reported by authoritative sources including the BBC, and subsequently the Guardian, Times and Daily Telegraph dailies.
Gerard Lopez has been mentioned as the favorite for the up to 75 per cent buyout, but David Richards' Prodrive and perhaps two additional bidders have been linked with the team that won world championships in 2005 and 2006.
The BBC said team staff, likely to continue to work under the Renault F1 banner in 2010, will be informed on Friday. 12/10/09 The Renault team will race on in Formula 1 next year after a deal was struck to secure its future, BBC Sport has learned. The company had considered its future in F1, but sources say its team will continue under new owners with Renault keeping a minority shareholding.
A private announcement to the team is at its headquarters on Friday with an official announcement next week.
The team name is unclear but it seems the car will race as a Renault.
The two front-runners in the race to take over the team were Luxembourg businessman Gerard Lopez, and David Richards, the boss of the British motor racing engineering firm Prodrive and former team principal of Benetton and BAR in F1.
Lopez is considered the favorite to take over Renault under the auspices of his Genii Capital investment company.
Some sources say Renault will retain a 25% share in the team. BBC Sport