Renault stays in F1 as new points system is planned

Formula One team Renault will continue in the sport after a deal was reached that will secure its future.

New owners are set to come in, although the manufacturer will maintain a 25 per cent shareholding. The team will continue to race as Renault in 2010 despite the changes.

The BBC reports that the two main investors battling to take over the outfit were Luxembourg businessman Gerard Lopez, and David Richards, the boss of the British motor racing engineering firm Prodrive and former team principal of Benetton and BAR in F1. A decision on which of the two will become the new owners has been taken, but has not yet been formally announced.

Renault endured an annus horribilis this year, on the track and off it, which led to the decision to examine the team's future participation in the sport.

They finished eighth out of 10 teams in the championship, their worst result since returning to F1 in 2002. The team managed just one podium finish during 2009, Fernando Alonso's third place in the Singapore Grand Prix.

Far more damaging was the race-fixing scandal that came to light when former driver Nelson Piquet Jnr sensationally revealed that he was told  to crash in the 2008 Singapore Grand Prix to aid Alonso's chances of winning.

The investigation resulted in team boss Flavio Briatore and engineering director Pat Symonds being banned from motorsport. Renault were also warned that any other transgressions in the next two years would result in the team itself being thrown out of F1. Several sponsors abandoned the team in the wake of the revelations.

A formal announcement of the new structure at Renault is expected next week.

The 2010 season could also see a new points scoring system for the sport. Winners could now earn 25 points instead of 10, and every driver in top 10 would be rewarded. The idea was discussed at a meeting of the F1 Commission on Thursday, and was prompted by an increased number of teams in next year's competition. ·