Formula One: Renault Keen to Keep Briatore and Stay in F1

Renault yesterday dropped a strong hint that they will remain in formula one for the long term and are set to renew Flavio Briatore's contract as managing director of their team which won last year's world championship with Fernando Alonso.

A day after it emerged that Briatore is bidding for Michael Schumacher's services in 2007, Alain Dassas, Renault's new formula one president, indicated that he wants Briatore to agree a new deal to stay beyond the end of this season.

Dassas also eased speculation that Renault might quit the senior formula by saying he sees no reason why the team should not continue, providing FIA president Max Mosley's proposed raft of cost-cutting measures is brought in for 2008.

"Formula one impassions Renault," Dassas said. "We want to continue. We have good results and we need good profitability - which can come with reasonable costs. As for our involvement, we have signed [to continue in formula one] for 2008 and Flavio has done some extraordinary work. His contract expires this year and it should be renewed.

"After 2008, nothing is certain. But if we continue to lower the costs we will be there. To attract drivers, like sponsors, one needs stability and from June [when the 2008 rules are finalised] we will have made our case."