Renault remains loyal to Formula 1: "Have had a lot of positive news"

Almost all teams in Formula 1 are facing financial problems due to the coronavirus outbreak. Here and there it was whispered that it wouldn't be crazy for Renault to seize this moment to turn its back on the royal class of motorsport. However, this is not the case, Cyril Abiteboul emphasizes.

Renault has been active in Formula 1 again since 2016 with its own factory team, but the results were disappointing. However, according to Abiteboul, Renault's Board of Directors still has sufficient confidence in the project. "We believe in Formula 1 from a marketing perspective. This belief is still present", says the team boss, who does indicate that a reduction in costs is essential. However, this seems to be going to happen from 2021 onwards with the further lowering of the budget cap.

Renault understands its own situation

The 42-year-old chef claims to have regular contact with the top of the French brand. "Yes, although the management of Renault has a lot on his plate due to the crisis. They understand the situation we are in. They are aware of the discussions in the background. I know it's been a long time, but we've had a lot of positive news in the winter", he explains.

Abiteboul calls the two test weeks of February in Barcelona 'encouraging' and also says that bringing in a new title sponsor is a good step towards further continuity. "We want to build our team on this good news, at this momentum we have. We are still a young team. We must not forget that. But we have our ambitions for the medium and long term", continues the boss of Daniel Ricciardo and Esteban Ocon.

Abiteboul warns against chain reaction

At Renault it is hoped that all the other nine teams in Formula 1 will also be present in the coming years. "The risk of a chain reaction exists. Any team that withdraws would cause unrest, which would probably cause further worries among others race stables", he concludes.