Prodrive Set To Buy Renault F1 Team

”Prodrive is set to buy the ING Renault F1 team at some point today. A deal is expected to be confirmed as the F1 team retires from it’s formula one commitments.

Prodrive founder Dave Richards once tried to buy out Honda’s f1 team but bottled it after realising the high cost of running the state of the art technology ridden company including a massive wind tunnel.

Why is Prodrive buying Renault?

No price has been released yet and is unlikely to either until the deal has gone through. Prodrive has been looking for more ambitious projects to keep them busy since main areas of the companies businesses have started to wind down, they no longer run the WRC team after Subaru left, an engineering plant has closed, and the Aston Martin racing project has shut up shop. So they have plenty of spare time to dedicate to the new venture.

Good news for formula 1 fans, as it does look likely that Prodrive will continue to run the f1 team through the 2010 season.

How do you think this new venture will fair for the ailing Renault team?”

Picture from Alan D

Here’s a cool video