Briatore committed to F1 for long-term

Before Christmas the Renault team boss was quoted in the Italian media as saying that "in two years I will stop", but at the launch of the Renault R29 today he denied making any such comment and insisted he was committed to staying in the sport through the current economic difficulties.

"The plan is, I don't know really. I never said that to the Italian newspaper," he said.

"I believe we are living in a very crucial moment in Formula One. This crisis we have, I believe, is something that makes everyone think.

"What I want is to make sure that we have done what the managers need to do to give F1 the possibility to survive this crisis. And we need to change the business - instead of being a centre for costs it should be a centre for profit.

I believe we have the responsibility for the people working for us to give them a future. We need to accept that at this moment it is very difficult, not just for us but worldwide.

"We never had a moment like this in history and I want to be a part of this changing F1. Whatever it takes I will do it, and after that I will see."

He declined to set a timescale for how long he would remain with the team, or how long he thought it would take to make the sport financially stable.

"I hope not to do it for so many years," said Briatore. "We are working very well, the team together with FOTA, we are working well with Max (Mosley) and we are working well with Bernie (Ecclestone).

"We have talked about costs for a long time, and now finally we are there. We are trying to structure F1 in a different way and I want to be part of it.

"I hope it does not take 10 years, but we need to take the responsibility to do it as quickly as possible."