Renault Confirms No Budget Increase for Works F1 Team
Renault Sport chairman Jérôme Stoll says the French manufacturer’s Formula One budget will remain unchanged as it returns to full works status for 2016.
Renault will not increase its Formula One budget as it transitions from engine supplier to full works team in 2016, according to Renault Sport chairman Jérôme Stoll. Addressing speculation that the French manufacturer would match Mercedes’ spending levels after taking over the Enstone-based team, Stoll told France’s Auto Plus that there would be no budget rise for the upcoming season.
Stoll explained that Renault’s spending as an engine supplier would remain the ceiling for its works team operation. He pointed out that while supplying engines brought no prize money, sponsorship or FOM rights, running a full team opens up new revenue streams. Renault expects to fund the team partly from these sources rather than increasing its own outlay.
Team structure and leadership
Renault’s announcement did not include details of the management line-up for the revived works team. There has been speculation that Frédéric Vasseur and Alain Prost could take key roles, but Stoll said a full reveal would come from CEO Carlos Ghosn in January. The Enstone operation, which previously raced as Lotus, is expected to retain much of its existing staff during the transition.
