Renault drivers agree to reduce salaries

(GMM) Renault drivers Fernando Alonso and Nelson Piquet have agreed to reduce their salaries in reaction to the global recession.

Team boss Flavio Briatore told the Milan magazine 'Chi': "I said to them that a reduction would be appropriate.

"They understood the situation and we reached an agreement," he explained.

Twice world champion Alonso, a 27-year-old Spaniard, is among the highest paid formula one drivers.

"Also in formula one we feel the (financial) crisis and are needing to reduce costs," Briatore said.