Sunday, August 1, 2010

Motor racing tycoon Dave Richards is just one of a number of parties interested in taking over Renault ahead of the new Formula One season.

Richards’ Prodrive company has been linked to a takeover of the team. and the former BAR and  Benetton boss has a wealth of motor racing experience.

F1 boss Bernie Ecclestone admitted the former Subaru rally boss would not have things his own way.

George Lopez, founder of technology investment company Mangrove Capital Partners and chairman of Luxembourg-based fund Genii capital, is also believed to be keen And Ecclestone said: “Richards is up against more than somebody. There is the Gerard Lopez group, there is David Richards and then there are another two people.”

Renault were set to decide their future by the end of the year.

The board is expected to meet in Paris this week amid speculation they are considering selling a controlling stake to outside investors in a partnership deal that would see the team continue to race with their engines.

The team were handed a suspended permanent ban in September for their involvement in a race-fixing controversy, which resulted in ex-principal Flavio Briatore being barred for life.

Briatore is now appealing that ban.

But Ecclestone hopes a deal would be done soon.

He said: “I don’t think there is any big rush to get something done, but the sooner the better for everybody. I hope it can be done within the next ten days and before everybody breaks up for Christmas.”

Meanwhile, Ecclestone admits he could have made a lot more money if Formula One had turned its back on the British Grand Prix.

The F1 supremo struck a deal that keeps top-class racing in England, with  Silverstone landing a long-term deal for the race.

But with the UAE joining the F1 calendar last year, and the Abu Dhabi Grand Prix proving such a success, there must have been a real temptation to look at pastures new again rather than stick to England. And Ecclestone admitted he took a financial hit with the decision, saying: “There are other places desperate for races but there was no more money in Europe.

I got fed up with the whingeing and moaning.

“It has taken too long, but now Silverstone can get on with it for years to come and make a fortune.”