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Formula One
F1: Renault Will Race In 2010
Renault's F1 managing director Jean-Francois Caubet insists a working budget for 2010 has been approved and the team will race in Formula One next year...
SPEED Staff / GMM  |  Posted November 05, 2009   GMM Newswire
Following the announcement of Toyota's departure on Wednesday, the Renault board met in Paris, triggering reports that the French car maker could be the next to quit F1, however the reports turned out not to be true. (Photo: LAT Photographic)

Shooting down speculation to the contrary, Renault's F1 managing director Jean-Francois Caubet insists a working budget for 2010 has been approved and the team will race in Formula One next year.

Following the announcement of Toyota's departure on Wednesday, the Renault board met in Paris, triggering reports that the French carmaker could be the next to quit F1. The meeting, attended by the F1 team's chiefs Bob Bell and Jean-Francois Caubet, came amid rumors that Renault might sell its Enstone based outfit but remain on the grid as an engine supplier.

A spokesman said the description of Wednesday's gathering, as an "emergency meeting" was wrong, because it had been planned for weeks.

Caubet told the sports daily L'Equipe: "We have already contracted our drivers, had our budget approved and are enrolled in the world championship. Season 2010 has begun already."

He said Renault CEO Carlos Ghosn has also laid out his expectations for Renault's 2010 season; that the team "returns to a good level".

"We will not be world champions in 2010, but we do have hopes to be much improved," Caubet added.
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