Renault are today holding a crunch meeting to discuss its future in Formula 1 and whether it quits entirely, remains an engine supplier or returns to team ownership by taking over the Lotus team it once owned.
Renault-Nissan CEO Carlos Ghosn will meet with Renault ambassador Alain Prost and Renault Sport F1 boss Cyril Abiteboul to analyse each option before finally committing to one.
Whilst a decision is likely to be made this week, it might not immediately be made public until further discussions have taken place.
Sources close to the company have suggested team ownership is the preferable option, but by no means is it a definite, particularly because of Lotus’s financial situation which has complicated matters.
The team currently has huge debts, though the majority of these are with its main shareholder, Genii Capital.
It’s been suggested Renault might takeover the Enstone facility and staff, but not the Lotus entry. That would effectively make it a new team, but it would be required to apply to the FIA for an entry.
Coincidentally, or rather not, the FIA extended its deadline for new entrants to next week, therefore giving Renault enough time to apply and make the grid in 2016.
Speaking to Motorsport, F1 boss Bernie Ecclestone said he expected a decision by the end of the week.
“We’re gradually getting things sorted out,” he said. “By this week we’ll know which way we’re going.
“Hopefully then we’ll know whether Renault are going to take them over, or what’s going to happen.”
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