Renault have smaller budget in 2007

(GMM) It is believed that Renault is operating on a smaller budget for formula one this year than in 2005 and 2006, when the French manufacturer secured back to back championships.

To the news agency Sport-Informations-Dienst, team president Alain Dassas – reportedly disappointed with Renault's sluggish start to the 2007 campaign – is quoted as estimating that the team's is now the "smallest budget" of all, not counting the independent squads headed by Williams and Red Bull.

He would not be pinned down on a figure but agreed that Renault's budget is in the range of $250 to $400 million.

"We have it (the budget) fully under control," said Dassas.

Mandatory expenditure has been lessened for 2007 by the new engine freeze rules, and Renault is selling engines to Red Bull in 2007 and also saving considerable money by not having to pay a superstar driver like Fernando Alonso.

Moreover, new title sponsor ING is believed to be spending less than its predecessor, Japan Tobacco.