Paris (AFP)

The manufacturer Renault will stay in F1 despite the announcement of a vast restructuring plan accompanied by the loss of 15,000 jobs, helped by the drastic reduction in spending in this sport from next year.

"We have said publicly and we confirm that we remain committed to Formula 1," said its acting chief executive Clotilde Delbos on Friday, ending rumors of the firm's rhombus that had been shaking F1 for several months.

At the heart of the crisis linked to the coronavirus pandemic which has so far prevented the World Championship from starting, F1 is thus reassured about the continued presence of one of its big names.

It was the decision by F1 officials to adopt cost-cutting measures next year that likely prompted Renault to stay in the race.

The annual operating expenses of each of the ten stables currently engaged will be reduced to 145 million dollars in 2021 (132 million euros) then 140 million USD for 2022 with a further decrease to 135 million USD for 2023-2025, on the basis of a season of 21 races.

Compared to budgets approaching $ 500 million for the biggest teams like Mercedes and Ferrari, the weight loss is severe.

"The announcement of new regulations on spending limits is very good for us because we will have to invest less in this discipline than some of our competitors who spend a lot of money. So we are and stay in F1", underlined Clotidle Delbos.

Renault currently employs around 1,200 people in F1, 450 in its engine department in Viry-Châtillon near Paris, and 750 in its chassis factory in Enstone in Great Britain.

The hope of its managers is to succeed thanks to this cost cap and the leveling of performance it must train - also through an aerodynamic handicap system for the best placed teams - to catch up with Mercedes, Ferrari and Red Bull.

- F1 in the doldrums -

Since returning to F1 in 2016 after retiring as a manufacturer in 2010, Renault has not managed to get on the podium, either in a Grand Prix or in a season.

The team could not do better than 5th in the ranking of the 2019 world championship, in particular being overtaken by McLaren, a team which it motorizes. His best final ranking in the championship is 4th place in 2018.

Next year, its engine will only equip its own cars because McLaren has chosen to equip itself with Mercedes, the benchmark in this field since the advent of hybrid technology in 2014.

Renault's decision to stay at the highest level of motor racing comes at the height of this discipline. The coronavirus pandemic prevented races from being held and suddenly the income of the stables collapsed.

McLaren Group announced this week the loss of 1,200 jobs (including some 70 in its F1 team). Another historic name, Williams, said Friday that it was considering a possible sale and Mercedes, six-time world champion since 2014, had to deny rumors of its departure from F1 on Thursday.

Assured of its presence in the world championship, Renault F1 will now also be able to devote itself to the choice of the driver who will support the young French hope Esteban Ocon.

The Australian Daniel Ricciardo, who arrived in early 2019, will leave next year for McLaren and Renault could make a splash by bringing out of his retirement the double world champion Fernando Alonso who had conquered his titles with the French brand in 2005 and 2006.

At 38, the Spaniard (who left F1 at the end of 2018) recently admitted that the F1 virus was itching again but without revealing which steering wheel he was eyeing for his return.

jld / cha / bde

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