Renault looking to buy back Formula One team?
The 2010 Formula One season has been ripe in unpredictably and, while we kind of figured that it would be a three-headed race for supremacy with Ferrari, Red Bull, and McLaren, we didn’t expect one other team to have had the success they’ve had this year.
That team is Renault and the team’s success has generated some interest from the French carmaker Renault SA to consider buying back a majority stake in the team that bears its name.
If you recall, earlier this year Renault actually sold a majority stake of the team to Genii Capital, an investment firm in Luxembourg. The sale was widely viewed as Renault’s intention to cut their losses with the team after a major scandal rocked Formula One that centered on then Renault boss Flavio Briatore. Add that to the economic crisis that gripped a number of brands, and it seemed like a perfect time for the French manufacturer to drop the team and focus more on their production cars.
But now that the economy has stabilized and the Renault F1 team is doing surprisingly well this year, the French auto brand is rumored to be looking to buy back a piece of the F1 team’s pie. Whether or not this happens is still up in the air. But if you ask us, it does look suspiciously like a boyfriend looking to get back together with a girl he previously dumped because she lost weight and got hot all of a sudden.
And we know how those things turn out.