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Renault follows Ferrari in F1 pullout threat
AP/ PTI / London May 13, 2009, 21:12 IST

Renault is following Ferrari in threatening to withdraw from next season's Formula One world championship because of the budget cap imposed by the sport's governing body.

Renault said today it is frustrated that FIA adopted the new regulations while ignoring alternative plans proposed by the teams.

 
Like Ferrari a day earlier, Renault said it will only take part in the 2010 championship if FIA revokes the new regulations.

FIA president Max Mosley is leading the FIA's push to curb costs, with a voluntary 40 million pound (euro 45 million; $60 million) budget cap being made available to teams.

But big teams fear the rules will effectively split F1 into two tiers, those that can live with the cap and enjoy the technical advantages and those that can't.

"Renault has always considered Formula One as the pinnacle of motor sport and the perfect stage to demonstrate technical excellence," Renault F1 team president Bernard Rey said in a statement. "We remain committed to the sport.

"However, we cannot be involved in a championship operating with different sets of rules and, if such rules are put into effect, we will be forced to pull out at the end of this season."

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