Renault set to increase budget

Team boss anticipates 30 or 40 percent increase

Last updated: 18th September 2008   Subscribe to RSS Feed

Renault set to increase budget

Briatore: Receiving full support

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Renault team boss Flavio Briatore has revealed that their budget is set to rise considerably.

Despite having manufacturer backing, the Anglo-French outfit have had to compete without the resources available to the likes of Ferrari and Toyota.

Indeed, having taken back-to-back World titles in 2005 and 2006, Renault have prided themselves on their ability to provide value for money.

However, that could change next season with Briatore saying that, in spite of the current economic downturn, Renault President Carlos Ghosn has rubber-stamped an increase in the team's budget.

"Our President has given his full support for the team," Briatore told Spanish newspaper Marca.

"It is a very difficult moment for all companies, but he did not hesitate for one minute in increasing our budget by 30 or 40 percent."

An increased budget could prove vital in Renault's attempts to hold on to Fernando Alonso.

The Spaniard returned to the team at the start of this season. However, he has an exit clause in his contract should Renault fail to provide a quick enough car.

With four races remaining in the 2008 season, Alonso lies seventh in the Drivers' Championship.

Although a barrier to his preferred destination, Ferrari, was erected when Kimi Raikkonen last week extended his contract until the end of 2010, BMW Sauber and Honda have both expressed an interest in signing Alonso for 2009.

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