UPS to sponsor Renault F1 team

UPDATE Flavio Briatore admitted at Monza that Renault has not yet signed a replacement sponsor for departing tobacco brand 'Mild Seven' next season.

''We are working on that,'' said the Italian, as rumors swirl that Spanish telecommunications company Telefonica decided not to increase its commitment to the team to become title sponsor. UPS is now the leading candidate to replace Mild Seven.

09/06/06 reports that the Renault F1 team is in deep discussion with UPS and that if the deal goes ahead the Renault next year could be brown and white.

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