Its strategy has been largely in doubt and some feared that Lopez would be the typical buy-in and sell withprofit type of capitalist but those who know Lopez in Luxembourg never saw him that way. One of the world's most iconic sporting brand and a platform to potentially adding to their enormous commercial wealth are target of longer range for the private investment company and Sportinglife just reveals some recent insight into this most fascinating story.
Just four months after standing on the precipice and staring into Formula One's abyss, Renault have been hauled back from the brink and had new life breathed into them.
The shame of last season's 'crashgate' scandal, in tandem with a third successive year of failure on the track, forced Renault to consider joining the exodus of car manufacturers quitting the sport.
Honda, BMW and Toyota had all previously walked away, no longer willing to pour millions of pounds into their F1 operations, not when the basis of their very existence was crumbling under the weight of the global financial meltdown.
Renault would undoubtedly have followed suit, scaling back their involvement to simply supplying engines, but for the intervention of Genii Capital, a Luxembourg-based private investment firm, who bought a 75% stake.
more:http://www.sportinglife.com/formula1/news/story_get.cgi?STORY_NAME=formula1/10/03/06/manual_135332.html
Photo:tageblatt.editpress.lu
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