Carmaker Renault considers buying back F1 team UPDATE (GMM) Renault F1 has scoffed at reports suggesting its former French carmaker parent is considering buying back the Enstone based team.
Amid the car sales crisis and economic downturn, and the damaging crashgate scandal, Renault SA sold a rumored 85 per cent of the team that still bears its name to Luxembourg-based investment firm Genii Capital.
But Finland's Turun Sanomat claimed the carmaker's financial situation has dramatically improved to the point that it is interested in returning wholeheartedly to F1.
"Rumor mill in overdrive with some creative stories on the web," Renault F1 said via its official Twitter account.
"For the record, Renault are very happy with the Genii partnership, great visibility and a good relationship. No plans to change," added RF1paddockpass.
Renault also dismissed rumors that Felipe Massa could be headed to Renault next year, with Robert Kubica linked once again to Ferrari.
"Has anybody seen Robert and Felipe standing next to each other? I'm not sure they'd fit in each other's seats if they swapped," wrote the team's Twitter author.
09/01/10 (GMM) French carmaker Renault SA is reportedly considering buying back a majority stake in the formula one team that bears its name.
Amid the car sales crisis and economic downturn, and the damaging crashgate scandal, Renault sold a rumored 85 per cent of the Enstone based team last year to Luxembourg-based investment firm Genii Capital.
With its new owners, Renault F1 has fared better than expected in 2010, culminating in Robert Kubica's strong performance and third podium of the season so far at Spa-Francorchamps last weekend. zzzz
Finland's Turun Sanomat claims that Renault SA's financial situation has dramatically improved to the point that the carmaker is interested in returning wholeheartedly to F1.
The rumor ties in with ongoing speculation, also once again alluded to at Spa by new team boss Eric Boullier, that Kimi Raikkonen could return to formula one next year with Renault.