'Title sponsor could help Renault stay in F1 long-term'

Renault team principal Cyril Abiteboul said getting a title sponsor on board could help to secure the French works team's long-term future in F1, with Renault looking to cut costs across the entire company.

Groupe Renault, the mother company, are looking to cut costs across the board as the state-backed company is discussing whether having an outfit in Formula 1 is profitable.

A title sponsor would help significantly with this alongside the budget cap, which is set to take force next year, as Abiteboul insisted there is no certainty Renault will remain in F1.

"I think it helps and it's certainly a step in the right direction," the Frenchman told Motorsport.com on the day of the RS20's official reveal.

Abiteboul ended by saying there is no announcements for a partnership to be made yet.