Renault join Ferrari in Formula One quit threat

Renault have increased the pressure on the FIA by announcing their intention to follow Ferrari out of Formula One unless plans to introduce a £40 million budget cap are scrapped.
The row over the new directives, which are designed to cut costs in the sport, escalated dramatically yesterday when Ferrari issued an ultimatum that they will pull out of the championship unless new rules for next year are changed. Now Renault have become the fourth team, joining Ferrari, Red Bull and Toyota to declare their intention to pull out of the sport because of the new regulations.
While Renault are not directly opposed to a budget cap, they are unhappy with the way it has been introduced and the resulting two-tier championship that would be formed should than FIA get their way. Under the new regulations, teams that do not agree to cap their budgets would be subject to stricter technical regulation from next season, making them less competitive on the grid.
"We remain committed to the sport, however we cannot be involved in a championship operating with different sets of rules, and if such rules are put into effect, we will be forced to pull out at the end of this season," Bernard Rey, the Renault president, said.
Flavio Briatore, the Renault team principal, added: "Our aim is to reduce costs while maintaining the high standards that make Formula One one of the most prestigious brands on the market. We want to achieve this in a co-ordinated manner with the regulatory and commercial bodies, and we refuse to accept unilateral governance handed out by the FIA.
"If the decisions announced by the World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula One World Championship at the end of 2009."
A Renault statement read: "There is frustration Formula One Teams Association's (Fota) constructive proposals, including major cost-saving measures to be adopted progressively between 2009 and 2012, which were carefully constructed by Fota members, have been completely ignored without any form of consultation by the FIA with the teams.
"It should be stressed that Fota has set the same, if not lower, financial objective as the FIA, but Renault strongly believes that this must be introduced through a different procedure agreed by all parties.
"Renault also believes it is paramount that the governance of the sport is co-ordinated with a spirit of consultation with all parties (FIA, FOM, Fota) in order to achieve a better balance between the costs and the revenues.
"Renault is also of the firm view that all entrants in the world championship must adhere to and operate under the same regulations."
Today's developments will dramatically increase the pressure on Max Mosley, the president of the FIA, who despite the uproar remains committed to slashing spending in the world’s most expensive sport.
Sources close to the FIA said Ferrari's announcement yesterday was received without any sense of alarm, with sources close to Mosley indicating that it was neither unexpected nor likely to be followed through.
Meanwhile, Bernie Ecclestone, the Formula One commercial rights-holder, said that he expects significant progress on many of the areas that are causing difficulties to be ironed out at a critical meeting of the teams and Mosley at Heathrow on Friday, which he will also attend.
“I hope common sense will prevail because the last thing we want to do is lose any of the manufacturers or teams currently in Formula One,” he told The Times last night.
Source:The times