Forgot Password

 

Register

 

Create your Connect ID

This will allow you to login to all DStv websites & applications




or
Login using
x

Email Reset

 




Loading...
Loading Live Scoring...
*All times CAT (GMT+2)

Motorsport | Formula 1

Jean-Michel Jalinier © Action Images

Renault losing patience with late-paying teams



Renault has warned late-paying Formula One teams that they risk having their engine supply withheld if matters are not resolved in the next few weeks.

Speaking to reporters at the Spanish Grand Prix, fifth race of the season, Renault Sport F1 head Jean-Michel Jalinier indicated the French engine maker was losing patience.

Renault supply world champions Red Bull and sister team Toro Rosso as well as cash-strapped Lotus and tail-enders Caterham, owned by Malaysia's AirAsia aviation entrepreneur Tony Fernandes.

Jalinier did not mention any customers by name but the Red Bull teams, owned by the Austrian energy drink company and billionaire founder Dietrich Mateschitz, are unlikely to be behind with payments.

"Our resources are coming from two sources: One is Renault, and we have been able to secure the right resources...and the other part of it is coming from the teams, because we are selling the engines to the teams," he said.

"On this part I must say 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."

The new V6 turbo hybrid power units are considerably more expensive than last year's now-defunct V8s and Renault started the season playing catch-up with rivals Mercedes well ahead on performance.

Jalinier said that while Renault could live with late payments "up to a certain point", the critical point - likely to be the showcase Monaco Grand Prix later this month - was fast approaching.

"It's just weeks away...then we'll have to address the situation with the teams and take decisions, because that's something we cannot carry forward," he said.

Asked whether that could include withholding engines, Jalinier replied: "That is an option. You first need to work with your team and get back to some kind of financial situation."

Renault and Caterham announced in November 2012 a joint venture for production of a high-performance road car but a source familiar with the matter told Reuters in March that it had been scrapped.

Neither Lotus, who had financial difficulties last year, nor Caterham have scored points so far this season.

Shop

Lewis Hamilton: My story
Lewis Hamilton’s explosive arrival on the Formula 1 scene has made front-page headlines
R112.64
Psychology of motorsport success
Motorsport is a highly addictive and extremely exciting activity
R369.89


Comments

More expert analysis and opinion from Sport24
The opinions expressed by Sport24 experts and bloggers are theirs alone, and do not necessarily represent those of SuperSport

Sports Talk



Guest Column
Fit as an F1 driver
Nico Rosberg turns around with a grin during a slight uphill section, shouting "Hey, what's the...

Reuters on Motorsport
Team prospects for the 2013 F1 season
Team-by-team prospects for the Formula One season starting in Melbourne, Australia, on March.