Renault to return in 2010

Renault will be back on the F1 grid in 2010, ending speculation that the team would drop out of the sport in the wake of the race fixing scandal and the global financial crisis.

But the team was able to strike a deal with businessman Gerard Lopez to ensure the team will continue under the same name and branding as last season - though Renault itself will hold a 25% stake.

Renault held an emergency board meeting in November to decide whether to bail from the costly sport, after the team took a PR battering following Flavio Briatore and Pat Symonds' bans from motorsport for their involvement in a race fix.

I am delighted to welcome Genii Capital as our new strategic partner as I am sure that their enthusiasm and business expertise will create a new dynamic for the team, the staff, and our partners," said team president Bernard Rey.

"Altogether, we look forward to competing again at the highest level in Formula One."

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