Renault is going broke! [Archive]

gloomyDAY

28th May 2011, 08:17

http://f1.madeinmotorsport.com/en/headlines/news-f1-renault-team-in-financial-trouble-report-23266.html

Only a rumor, but we know how they tend to be true in F1.

I had a laugh at how Renault is going to carry Cosworth engines next season. Also, Genii Capital must be incompetent to bring a prominent team down to its knees. Where is Flavio? :p :

ioan

28th May 2011, 08:48

It's Lotus not Renault, only the engine is from Renault.

CNR

28th May 2011, 09:57

Renault looking for another team has been floating around for a few weeks
http://www.planet-f1.com/driver/3213/6928628/Renault-want-a-fourth-engine-customer

As we are speaking speculatively to a number of teams to expand our partner base, we are discussing our situation with the FIA so we are fully ready if the situation arises," said Renault Sport F1 managing director Jean-Francois Caubet.

BDunnell

28th May 2011, 11:30

It's Lotus not Renault, only the engine is from Renault.

As far as I'm concerned, it's neither, being majority-owned by Genii Capital and merely sponsored by Lotus. Saying this team 'is Lotus' is like calling the McLarens 'Vodafones'.

janneppi

28th May 2011, 12:10

As far as I'm concerned, it's neither, being majority-owned by Genii Capital and merely sponsored by Lotus. Saying this team 'is Lotus' is like calling the McLarens 'Vodafones'.
Well, us Alonso whiners already call Ferraris 'Santanders'. :D

Maybe next time RenaultLotusInfinityLotusLotus are smart enough to ask the money from Petrovs backers full in advance. :)

ioan

28th May 2011, 12:12

Renault looking for another team has been floating around for a few weeks
http://www.planet-f1.com/driver/3213/6928628/Renault-want-a-fourth-engine-customer

Renault are only trying to enlarge their engine supply base to more teams not looking for buying or team or something along those lines.

CNR

28th May 2011, 13:16

Renault are only trying to enlarge their engine supply base to more teams not looking for buying or team or something along those lines.

http://www.themotorreport.com.au/51144/f1-renault-sells-up-as-group-lotus-enters-f1-team-lotus-adamant

Renault Sells Up As Group Lotus Enters F1, Team Lotus Adamant

Renault, meanwhile, is staying in F1 "as a supplier of engines and engineering expertise" and will have "pre-eminent brand exposure on the livery", the statement said.

jens

28th May 2011, 18:34

Well, the Enstone team has faced a fair amount of instability and setbacks in recent years and as we know, Bahar's plans for Lotus' car sales are quite ambitious and any setbacks can have further influence on the sponsorship of the F1 team. The solution of the court case doesn't help either. A pity, because I think the Enstone team had real potential to become a serious contender again after the departure of Michelin tyres and later the Briatore gang. But now they are in turmoil and could well start dropping backwards with teams like Sauber seeming to have more stability now.

gloomyDAY

28th May 2011, 22:51

It's Lotus not Renault, only the engine is from Renault.Damn, this is getting confusing.

I posted Renault because that's what helps me differentiate them from the other Lotus-Renault team, so I didn't mean Renault in terms of the company or engine manufacturer.

Mark

29th May 2011, 09:53

They should go back to their original name of Toleman.

Roamy

31st May 2011, 17:11

well Renault looks to be ready to save some money as they tell Quick Nick he is not Quick enough. I have to laugh when everyone thought this guy was going to come in and drive straight up to the front. Also develop the car into a contender. Well to date he has not done sh!t and will probably get the boot within the next 3 races if he doesn't get up on the grid.. I imagine JV is pretty happy he did not get this drive. It looks like it is hard to change teams coming back with "rust" on you. But if Mikey can't get it done why would one expect Nick to be a star.

CaptainRaiden

31st May 2011, 17:30

Malbec

31st May 2011, 18:41

Renault had problems this time last year as well when they had difficulty paying their employees and asked for TV money in advance from Bernie, ostensibly to help them develop the car.

With Lotus sponsoring them who have started to delay or cancel their five model lineup already, money must be pretty tight. They managed to get a £500 million loan finally but only from state-owned Malaysian banks, noone else thinks the company is fit to invest in. I can't see Bahar lasting too long either.

I suspect development has been held back or stopped completely thanks to poor cashflow which would explain why Renault has slipped back in pace.

AndyL

31st May 2011, 18:43

Well, he got a podium in only his second race for Renault, in Malaysia, something Mikey hasn't been able to do in 2 years...

And he's ahead of his team-mate in the WDC standings, also something MS has not achieved so far in his comeback.

52Paddy

1st June 2011, 09:47

But if Mikey can't get it done why would one expect Nick to be a star.

Also, Heidfeld had a one-year sabbatical during which he test drove on many occasions for Pirelli and actually competed in the 2010 Japanese GP. In that GP, he finished 8th in a car that was far from 'very competitive' (though it has been improving immensely all the time). Heidfeld is 34 - not young but certainly still a few years left in him. MS hadn't raced since 2006 and he's now 42.

The Black Knight

1st June 2011, 10:24

Boullier - Renault not going broke:

No finance problems at Renault | Renault | Formula 1 news, live F1 | ESPN F1 (http://en.espnf1.com/renault/motorsport/story/50424.html)

Mark

1st June 2011, 11:10

It is very odd that it's a team we all call Reanult, but it isn't owned by them, but it kind of is :crazy:

AndyL

1st June 2011, 12:32

It is very odd that it's a team we all call Reanult, but it isn't owned by them, but it kind of is :crazy:

It is odd, but it's not owned by Lotus, Benetton or Ted Toleman either so I'm not sure what to call it instead... I'm not calling them Genii Capital!

555-04Q2

1st June 2011, 13:47

Renault is far from broke.

SGWilko

1st June 2011, 20:33

A log-jam at Renault F1 « (http://joesaward.wordpress.com/2011/06/01/a-log-jam-at-renault-f1/)

Oooops! Danny Bahar = Tw*t. Shouting his mouth off and upsetting Proton.

The team wil be stuck with the name Renault, but wont run Renault engines.

Fernandes must be rubbing his hands with glee, and rightly so.

Wah, wah, wahaaaaaaaaaaaaaa!

Bagwan

1st June 2011, 21:07

Ah , so that's why Jacques only signed up with Penske for two road races .
Oops , did I type that out loud ?

I meant to say , I like this Bahar guy , but I won't miss him .

Roamy

1st June 2011, 21:40

Ah , so that's why Jacques only signed up with Penske for two road races .
Oops , did I type that out loud ?

I meant to say , I like this Bahar guy , but I won't miss him .

JV will have a full cup ride with Penske next year.

Garry Walker

1st June 2011, 21:55

Dont worry, the Sutil case will help Renault financially :D

SGWilko

3rd June 2011, 14:53

A little ditty in the financial section of the Daily Nazi* RE Lotus - Dany Bahar has addressed the workforce to the effect that 90 odd positions are being shed. Also mentions that they lost out on an entrprise grant worth £28m from Norfolk Council or a similar body.

Plot thickens here.....

*Mail ;)

Malbec

3rd June 2011, 18:55

Also mentions that they lost out on an entrprise grant worth £28m from Norfolk Council or a similar body.

That happened a while back, Lotus threatened to up sticks and move manufacturing abroad if they didn't get the grant.

Interesting that no financial organisation has backed Bahar's plans with investment except the Malaysian state-owned banks who don't have a choice....

ioan

3rd June 2011, 20:04

Another mess set up by so called business men.
Luckily it is only an F1 team. No, wait there are even some countries out there in the same situation.
The day should come when people only invest what they have and only make plans with what is sure that they will earn, otherwise we are all effed up.