Renault's main sponsors ING have terminated their contract ahead of schedule due to the recent race fixing controversy.
Main sponsor end renault deal due to race fixing controversy
Renault's main sponsors ING have terminated their contract with the Formula One team ahead of schedule due to the recent race fixing controversy.
As the disgraced Formula One team suffer yet more fall-out from the incident, the provider of a large part of their budget have withdrawn their support immediately.
ING had planned to end their current deal with Renault at the end of the season anyway, but the recent developments in the Singapore GP saga have led to them parting ways with immediate effect.
The Dutch financial group will now leave four races ahead of schedule after the former world champions were handed a suspended permanent ban from the sport.
The news comes after Renault chiefs admitted to Nelson Piquet Jr's deliberate crashing incident during last year's Singapore GP.
Verdict
"In light of the verdict of the World Motor Sport Council of 21 September 2009 concerning the events that occurred at the 2008 Singapore Grand Prix, ING will terminate the contract with Renault Formula One with immediate effect," ING said in a statement.
"ING is deeply disappointed at this turn of events, especially in the context of an otherwise successful sponsorship."
Earlier in the day, Spanish insurer Mutua Madrilena had also announced that they had withdrawn their sponsorship from the team for the same reason.
Ex-Renault boss Flavio Briatore was banned from F1 for life while former engineering chief Pat Symonds was suspended for five years for their part in the incident.
Mutua Madrilena said that they could not continue to be associated with Renault, but would retain their contract with Spanish world champion Fernando Alonso.
"Mutua Madrilena believes the conduct of the relevant people in the team was of extraordinary seriousness and not only compromised the integrity of the sport but also put the physical safety of spectators, drivers and circuit personnel at risk," they said in a statement.
"This could affect the image, reputation and good name of the team's sponsors."
