Zoom Renault to race on in 2010

Shooting down speculation to the contrary, Renault's F1 managing director Jean-Francois Caubet insists a working budget for 2010 has been approved and the team will race in Formula One next year.

Following the announcement of Toyota's departure on Wednesday, the Renault board met in Paris, triggering reports that the French carmaker could be the next to quit F1.

But Caubet told the sports daily L'Equipe: "We have already contracted our drivers, had our budget approved and are enrolled in the world championship. Season 2010 has begun already."

He said Renault CEO Carlos Ghosn has also laid out his expectations for Renault's 2010 season: that the team "returns to a good level."

"We will not be World Champions in 2010, but we do have hopes to be much improved," Caubet said.

AFP later reported that Ghosn, who was attending a public event today, promised that Renault's F1 plans would be made clear within the next two months.

"I can guarantee that before the end of the year we will make an announcement, and we will announce our strategy in regards to Renault's participation in Formula One," he said.

D.B. © CAPSIS International
Source: GMM