The Renault Formula One team is close to selling up to one of a pair of rival potential investors, with Prodrive's Dave Richards among those being considered to take over the team following a meeting of the French team in Paris yesterday.
The final decision on the future of Renault in Formula One will not be made until a major board meeting next week, but the meeting yesterday decided to give "consideration" to the bidders aiming to take over the team for 2010.
According to Le Parisien newspaper, initial reports that Prodrive and buisnessman Gerard Lopez were working together on a takeover bid were inaccurate, and that the two sides are actually rivals for the sale.
Lopez is believed to have submitted a bid with business partner Eric Lux through his Luxembourg-based Genii Capital company. The company already owns the Gravity Sports Management company, that represents a number of racing drivers.
Lopez's bid is reported to revolve around taking financial control of the team, but keeping the Renault name for the next to seasons at least. His bid would see him take between 75% and 100% of the team.
He would also absorb the existing Renault young driver programme into the Gravity Sports company.
In contrast, Richards and Prodrive would look to remove the Renault name from the team, save the French team's role as engine supplier. The Prodrive bid is backed up by a long history of running teams in various forms of motorsport, including the Subaru World Rally programme and various GT programmes down the years.
According to Le Parisien, the CEO of Renault, Carlos Ghosn, is understood to favour the Lopez bid, putting that takeover offer as the favourite to seal the deal.
However, the current Renault F1 management team are said to be in favour of a sale to Richards, with the F1 bosses believing that such a move would best represent a chance of the team returning to the front of the grid in the near future.
Furthermore, F1 supremo Bernie Ecclestone is understood to favour a deal that keeps the Renault name on the grid, with F1 currently suffering something of a manufacturer exodus.
Ecclestone told The Times newspaper that: "We've got to get the whole Renault thing sorted out.
"We are in the middle of doing it now. I feel confident that we'll see Renault next year in Formula 1 under the name Renault and the year after and the year after that."
The final decision on Renault's future F1 path will be made in the board meeting next week.
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