Renault into the red after spending big

2019-09-11 18:28:14 by Tom Mason

It's been revealed that Renault has gone into the red after spending big on certain things last year such as win bonuses. The team fell from a £1 million pre-tax profit the previous year to a £7.8 million loss in 2018.

The Oxfordshire based teams ended up fourth in the constructors' championship last season as costs went up from £18.6 million to £152.3 million as the team looked to improve it's Chipping Norton factory.

The fourth-place finish in 2018 was their best result as a team since they returned to the sport as Renault.

Their best result since returning to F1 came as recently as last weekend when Australian driver Daniel Ricciardo secured a fourth-place finish, narrowly outside of the podium.

The Aussie joined the team for this season, signing for a reported £22 million a year and they'll be looking for better results as the season draws towards a close.

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