Renault back budget cap

Renault F1 team have thrown their hat into the ring and have confirmed that they would back a budget cap in F1.

The amount of money each team spend on their car has been up in the air for a while but a budget cap would put an end to it.

Bob Bell, technical boss at Renault said: “Renault is in favour of a reduction in the amount of money it costs to go Formula One racing and be successful.

“We need to find ways to pull costs down and level the playing field.

“We’re absolutely behind any initiative like that, if that’s a cost cap then we’ll be up for that. If its a revision to the rules to make it cost less, we’d be up for that as well.

“I can’t imagine there’s anyone out there who voluntarily would want to sign up to spending more money.

“Realisitcally the sport needs to get itself to a point where any team on the grid can sustain its financial situation, that it can survive and not keep losing money.

“You need a team like Force India, they’ve been kept alive in recent years by Vijay putting in money. Manor, for example, only survived because the owner was putting money into it.

“It needs to be at a place where all the teams on the grid can be self-sufficient with the income they’re able to generate. That’s where it needs to be.”

Renault, last season, finished 6th in the championship and they are one of the many constructors teams aiming for fourth place come the final race of the season.

Force India, Renault themselves, Williams and even the likes of Haas and McLaren could be involved in the mid-field battle for fourth spot.

Speaking about achieving a consistent fourth place finish, Bob Bell added: “I think utill we can do that and demonstrate to Renault in particular that we’re capable of achieveng that then they are not going to start writing cheques fro a lot more people and resources.

“We have to prove ourselves every step of the way. Once we’ve done that, then we can start having a discussion about what’s it going to take to move into the top three and take on Mercedes, Ferrari and Red Bull because they’re in another league of resources."

Everyone at Renault is clearly in a positive and sensible move aiming for a strong, optimistic future.