Renault to stay if conditions are right

Renault will stay in Formula One after 2007 if the sport offers a fair return on investment, president Carlos Ghosn said yesterday.

In a recorded speech for the launch of the champions' new R26 car in Monaco, Ghosn voiced concern about the future direction of a sport facing the threat of a rival manufacturer-led series from 2008.

Some manufacturers are also unhappy with new regulations for 2008 put forward by the governing FIA to cut costs and encourage smaller independent teams by stripping out expensive technology.

"Obviously, there is some uncertainty about the conditions in which F1 will evolve beginning in 2008," Ghosn declared.

"But if I eliminate this uncertainty, if I consider that F1 will continue to have a good, fair return on investments for car manufacturers in general and for the winner in particular, then we must be there."

Renault are members of the five-strong Grand Prix Manufacturers' Association (GPMA) who are threatening a rival series if their demands for more money, a level playing field and greater transparency are not met.

The sport's commercial agreement expires at the end of next year and so far five teams, including Ferrari and Williams, have signed up to stay in the existing championship.

There has been persistent speculation that Renault, who won both championships last year, could pull out at the end of next season.

That whispering was further fuelled by world champion Fernando Alonso's surprise decision last month to race for McLaren from 2007.

Alonso is managed by Renault team boss Flavio Briatore, who has denied being involved in the contract negotiations.

"I read in the French press that Renault could quit F1 maybe at the end of this year," he said.

"We have heard what the president said and I think the journalists should get a new job because they spread completely false information everywhere."

Ghosn said the team's objectives for 2006 were "to offer a good show, to compete at the highest level and to win again."

¤ Motorcycling world champion Valentino Rossi's three-day test session with the Ferrari Formula One team was delayed by rain at Valencia yesterday. The charismatic Italian, who has had private sessions with Ferrari, was due to test the F2004 car at the Spanish track as part of a process some think will result in the 26-year-old switching from two wheels to four for 2007 or 2008. A Ferrari spokesman told Reuters by telephone that the five-time MotoGP champion was at the circuit but the team would wait until there were better track conditions before he went out.