Formula 1

Renault in discussion with Ecclestone over financial terms ahead of planned F1 return

1 Mins read

Renault Sport is currently in discussion with Bernie Ecclestone over financial arrangements ahead of its return to Formula 1 as a manufacturer as they look to buyout the Lotus F1 Team and return to Enstone.

Renault are seeking to become a historical marque should they return, which would enable the manufacturer to receive additional revenue from commercial rights holders Ecclestone and CVC Capital Partners, with the 65 per cent buyout of Lotus seemingly agreed.

Currently, Ferrari, McLaren, Mercedes, Red Bull Racing and Williams run with the historical marque label, which in turn gives those teams extra revenue each year from Formula One Management.

Renault has been a part of Formula 1 for all bar five seasons since 1977, with Renault boss Cyril Abiteboul and Lotus co-owner Gerard Lopez meeting Ecclestone last week to discuss details of the payment, including how much and when the payments would be received.

Further talks are planned, with some sources indicating the two parties are currently ‘several million’ apart on the proposal, while other sources indicate the proposal was ‘a good one’.

Traditionally Ecclestone provides the payments across a ten-month period across the year, but Renault are seeking an instalment up front to be able to get itself up and running ahead of the 2016 season.

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