The Renault team's title sponsor ING Group announced Monday that it was pulling out of Formula One at the end of the 2009 season. 'In light of the recently announced cost reduction program, ING confirmed today not to renew the three year sponsorship (2007-2009) contract with Renault F1 and to end its presence in F1 beyond the 2009 season,' ING said in a statement.
Renault will not contest race-fixing charges levelled against their Formula One team, the team said in a statement on Wednesday. Team boss Flavio Briatore and director of engineering Pat Symonds have left the team, it added.
Massa, who failed to score after a bungled pitstop, claims the race should have been cancelled because the sport's leaders allegedly knew before the end of the 2008 season what had happened but covered it up.
Formula One's cost-cutting measures should secure Renault's future in the sport despite the departure of title sponsor ING, team boss Flavio Briatore said on Monday.
The opening race of the 2007 season will be titled the Formula One ING Australian Grand Prix after organisers announced a three-year naming rights partnership with the financial services company on Wednesday.
Double world champion Fernando Alonso said on Tuesday he would think about quitting Formula One if the sport adopted a standard engine from 2010. Champions Ferrari, who could well figure in Alonso's future, and Toyota have already said they will consider pulling out if standard engines are imposed.
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