Wanna buy Renault? Get in line

Perhaps we can chalk this up as another “good signs for Formula 1″ stories.

Or we can just relish the possible financial battle that looms.

Autosport and Le Parisien newspaper have reported that there is a bidding war going on to purchase the Renault F1 team. On one side is Prodrive and Dave Richards. On the other is businessmen Gerard Lopez, who initially was supposedly working with Richards on the buyout.

Whoops!

The Autosport story is pretty strong, so here’s a taste:

Lopez’s plans are being put together through his Genii Capital company, with co-operation from his business partner Eric Lux. The company has invested in a number of projects – including the Charlie Chaplin museum in Switzerland and the Gravity Sports Management company that looks after a number of drivers.

It is understood that Lopez’s plan is for his company to take financial control of the team, but for it to remain Renault for at least another two years.

Sources have revealed that he intends to take between 75 and 100 per cent of the Renault team if his bid is successful. Furthermore, Lopez has agreed to incorporate the Renault Driver Development programme into his Gravity Sports Management company if he takes over the team.

Le Parisien suggests that Renault’s CEO Carlos Ghosn favours this option for the future – especially because it has the blessing of Formula 1 supremo Bernie Ecclestone.

Huh. I wonder why it has Bernie’s blessing. Oh, wait, did I just write that the other bidder is Dave Richards?

That’s not too tough to figure out.

However, to counter-balance these reports, I give you the Times:

Renault looks almost certain to sell a controlling stake in its Formula One team to David Richards, the owner of Prodrive and chairman of Aston Martin. He plans to run the outfit from its existing factory in Oxfordshire and continue to race them under the Renault banner.

In a move that is designed to relieve Renault of the increasingly onerous financial and management responsibility of running its own team but also spare Formula One the loss of yet another car manufacturer, a complex partnership deal has been negotiated that suits Richards, Bernie Ecclestone, the Formula One commercial rights-holder, and Renault.

[snip]

The Times understands that Richards, who previously ran the Benetton and BAR teams and has been keen to re-enter the Formula One fray, will become the figurehead of the new team from the start of next season after secret negotiations that have been continuing for two months. The team are expected to be sold to him apart from a minority stake retained by Renault, but the formal change of ownership may not take place for 12 months. In the meantime, the team will probably retain their name, although it is also possible they might adopt a new title combining Renault with Prodrive.

The Times even nabs a certain Mr. E for a quote: “We’ve got to get the whole Renault thing sorted out,” he said. “We are in the middle of doing it now. I feel confident that we’ll see Renault next year in Formula One under the name Renault and the year after and the year after that.”

Hmm… judging by what’s coming out of France, having “Renault next year in Formula One” seems to suggest that Richards isn’t going to win this one, although the Times does hint at a continuation of the Renault name. But can anyone imagine Richards holding onto Renault as a name for years and years?

Unless Bernie just is referring to hybrids like “Red Bull-Renault” or “Prodrive-Renault” or “Aston Martin-Renault.”