Renault also recorded a big loss in 2018 after major investments in Formula 1

12-09-2019 11:26 | Updated: 12-09-2019 11:42
by Matt Gretton
General
Renault also recorded a big loss in 2018 after major investments in Formula 1

Renault have also announced they made a loss from the 2018 Formula 1 season. Earlier in the week, Williams announced they will need to compromise from their loss in 2018. In an attempt to move up the Formula 1 world championship table, the Renault team invested heavily into the facilities and car. 

As a result of this, Renault finished in P4 and looked poised to close the gap between themselves and Red Bull. But so far in 2019, they seem to have taken a backward step. In 2018, Renault made a loss of £7.8 million. 

Renault invested nearly £20 million as they tried to narrow the gap between themselves and the big three. There are no significant problems at the moment, but results will be needed for a recovery in the near future. 

The deal that former F1 owner Bernie Ecclestone made with Renault in 2015 includes an interesting clause. The moment Renault wins the title two years in a row (and in that time wins at least 22 Grands Prix victories), the French racing team receives a bonus of around £18 million. 

Winning a GP (or gaining a podium place) hasn't been done yet, but Daniel Ricciardo was extremely close in Italy. The only downside is the Aussie's paycheck: Ricciardo is said to receive over £20 million a year from Renault.

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