Many companies have been struggling since the coronavirus outbreak, but that is all the more true of Renault. The car brand, which is partly owned by the French state, soon sent its F1 staff on leave when it was announced that the season was not going to start. This was done to reduce costs, but the financial problem is much bigger than expected. “Renault’s Formula 1 project is dying after death,” writes the Spanish sports newspaper AS. Renault would hardly be able to keep it strong in terms of finances.
Revealed earlier this week The Judge 13 all that Renault most likely announces to close several factories in France. The car maker is currently looking very critically at what it is spending its money on and it does not seem likely that the Formula 1 project is seen as a high priority. French Finance Minister Le Maire confirms in conversation with radio broadcaster Europe 1 that Renault is about to fall over. “Yes, Renault could disappear from the market,” he said in no uncertain terms.
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However, the situation at Renault is no reason for F1 team boss Cyril Abiteboul to already slow down. After all, the French factory formation is associated with big names when it comes to the successor of Daniel Ricciardo. Fernando Alonso, Sebastian Vettel and Valtteri Bottas, among others, have already been mentioned as possible options. The question is whether these drivers are interested in joining a financially shaky team.