‘Renault on sound financial footing’

Renault boss Eric Boullier has dismissed reports that his team are in financial trouble. Reports surfaced over the weekend suggesting that Renault owed a considerable sum to their parent company, an amount that has left them on shaky ground.

However, Boullier – while admitting that the team do have outstanding loans – has quickly rubbished such assertions.

"It is very funny how stories can blow up like this and constantly come back," Boullier told Autosport.

"It is maybe not a coincidence, but there is some old guard from Renault here [in Monaco] so maybe they keep spreading rumors on their own.

"This journalist [who wrote the story] did not come and see me to ask if it was true or not, and I am ready to do it whenever he wants – to open my books for him.

"Like any business, we have some loans for our own business and our own investment, but we don't have any debt now to Renault in 2011.

"We have a multi-year contract and a special agreement between us and Renault, like when you pay your mortgage back. We have some pending loan payments for the future, but that is for the future – it is not for this year. We have absolutely no issue at all. Everything is fine, perfectly fine."

Boullier added that the team's partnership with Group Lotus is stronger than ever despite a court ruling last week that allows for Team Lotus to retain the 'Lotus' in their title.

"There is no change for us, which is very good," explained the Frenchman.

"It has actually reinforced our partnership very well.

"We have a seven year sponsorship agreement with a title sponsorship level, which is a lot of money, and that is the best that we can dream to have," he added. Planet F1

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