Renault "is close to making a final decision on whether it will set up its own works team by buying the existing Lotus outfit," according to Laurence Edmondson of ESPN. Renault's F1 future "has been in doubt since the start of the year after its relationship with current customers Red Bull and Toro Rosso became increasingly frayed." Buying a team and setting up a works outfit "has been under consideration for some time and the French manufacturer is hoping to announce its future plans in the second half of the year." Renault Sport F1 Managing Dir Cyril Abiteboul said, "Nothing is done as of yet, but we are much further down the road and we are much closer to a conclusion and a decision. We are much clearer on why we want to be in F1 and also we are much clearer on the value of the sport and the sort of cost and budget we think we should allow." Renault "approached several teams about a takeover, but has been deliberating over the size of the financial burden it is willing to take on." Abiteboul said, "With Lotus we need to be extremely careful because it's no secret that the team has been struggling financially. When you see a team that is struggling financially, there is what you can see and you cannot see; it's like an iceberg." F1 CEO Bernie Ecclestone "has hinted that a future Renault works team would benefit from additional payments from the commercial rights holder because of the brand's history in the sport. As a starting point we need to decide what we want to do and how can we make it work, because if we are in F1 we are here to succeed, it's not just to participate" (ESPN, 7/29).
