Renault reveals that some of its F1 teams are late with payments

Renault has revealed that its Formula 1 recovery could be compromised by late payments from some of its teams

Renault reveals that some of its F1 teams are late with payments

The French car manufacturer put in to place an emergency action plan after a disastrous opening pre-season test to help it make up lost ground.

Those efforts have paid off so far, with Red Bull having emerged as a threat to Mercedes in the opening races.

Some of the funding for that plan was delivered by the Renault car company, but part of it is also reliant on payments from customer teams.

Renault's F1 president Jean-Michel Jalinier said ahead of the Spanish Grand Prix that he was unhappy that the project was being affected by unidentified teams not keeping up with payments.

"In order to develop the action plan we need to secure resources and our resources are coming from two sources," he said.

"One is Renault, and we have been able to secure the right resources, even human resources or financial resources, and the other part of it is coming from the teams because we are selling the engines to the teams.

"On this part I must say that we are not at an acceptable situation because some of the teams are just late in payments, and at the time you need to spend resources to catch up you cannot afford to have those [late] payments."

Jalinier declined to identify the teams who had not paid - but it would be unlikely to be Red Bull or Toro Rosso who are heavily backed by their energy drink company owners.

ENGINE SUPPLY DEALS COULD BE STOPPED

Renault says the situation is now critical, with matters needing to be sorted in a matter of weeks.

"It is a serious concern," Jalinier said. "We can live with it up to a certain point, because we are developing, putting money in the business, and we need to get our resources."

When asked whether or not it was possible for the supply deals to be cut if payments were not made, Jalinier said: "That is an option.

"You first need to work with your team in order to recover and get back to some kind of financial situation.

"We will have to address the situation with the teams and take decisions, because that is something that we cannot carry forward."

shares
comments
Simona de Silvestro chasing 2015 F1 race drive with Sauber

Previous article

Simona de Silvestro chasing 2015 F1 race drive with Sauber

Next article

Spanish GP: Lewis Hamilton stays on top in FP2

Spanish GP: Lewis Hamilton stays on top in FP2
Load comments

About this article

Series Formula 1
Teams Renault F1 Team
Author Jonathan Noble
How 2021's midfielders have taken lessons from F1's top teams Plus

How 2021's midfielders have taken lessons from F1's top teams

Formula 1’s latest Imola adventure turned into an expensive trip for many teams due to several crashes throughout the weekend. While balancing the books is an added factor in 2021 with the cost cap, a few midfield teams have cashed in early on development investments

Emilia Romagna Grand Prix Driver Ratings Plus

Emilia Romagna Grand Prix Driver Ratings

A frantic wet race at Imola produced plenty of excitement and drama as drivers scrabbled for grip. Amid the hatful of mistakes and incidents that ensued, who kept their noses cleanest?

How the Emilia Romagna GP result hinged on three crucial saves Plus

How the Emilia Romagna GP result hinged on three crucial saves

Rain before the start of the Emilia Romagna Grand Prix promised to spice up the action, and the race certainly delivered on that. Max Verstappen got the best launch to win from Lewis Hamilton, but both got away with mistakes that could have had serious consequences

Formula 1
Apr 19, 2021
The back-bedroom world-beater that began a new F1 era Plus

The back-bedroom world-beater that began a new F1 era

The first in a line of world beaters was designed in a back bedroom and then constructed in a shed. STUART CODLING recalls the Tyrrell 001

Formula 1
Apr 18, 2021
The clues Hamilton’s F1 contract afterthought gives to his future Plus

The clues Hamilton’s F1 contract afterthought gives to his future

The Formula 1 world reacted with surprise when it learned Lewis Hamilton’s long-awaited new Mercedes deal guarantees his presence on the grid only until the end of 2021. Both parties claimed publicly they were happy with the arrangement but, asks MARK GALLAGHER, is there more to it than that?

Formula 1
Apr 17, 2021
How a harshly ejected Red Bull star has been hooked by racing again Plus

How a harshly ejected Red Bull star has been hooked by racing again

Driver-turned-DJ Jaime Alguersuari lost his love for motorsport when he was booted out of Formula 1 just as he was starting to polish his rough edges. Having drifted from category to category then turned his back on racing altogether in 2015, he’s come full circle and is planning a return in karts for fun

Formula 1
Apr 17, 2021
Why Mercedes isn't confident it's really ahead of Red Bull at Imola Plus

Why Mercedes isn't confident it's really ahead of Red Bull at Imola

While Mercedes struck back against Red Bull by topping the times at Imola on Friday ahead of the Emilia Romagna Grand Prix, the overall picture remains incredibly close. Despite having a possible edge this weekend, the reigning Formula 1 world champion squad is not taking anything for granted...

Formula 1
Apr 16, 2021
What Mercedes must do to keep its F1 title challenge on track Plus

What Mercedes must do to keep its F1 title challenge on track

Mercedes may find itself leading the drivers' and constructors' standings after Lewis Hamilton's victory in the Bahrain Grand Prix, but it is well-aware that it came against the odds, with Red Bull clearly ahead on pace. Here's what the Brackley team must do to avoid its crown slipping

Formula 1
Apr 16, 2021