Renault’s $90m Spanish ’super-fund’ to woo Alonso
Posted on Tuesday 6 November 2007
Renault has pooled an incredible (US) $90 million to try to woo Fernando Alonso back to the French team in 2008 and 2009, according to reports. The Spanish newspaper Diario As also claims that Flavio Briatore, who is still waiting to hear from his 26-year-old former protege about the offer, has convinced one of McLaren’s sponsors to re-defect to Renault next year if Alonso also returns to the team.
‘As’ said Movistar, a Spanish mobile brand owned by Telefonica, and BBVA, a Spanish banking group, are eager to be associated with Alonso’s second Renault tenure, following a meeting in Madrid on Monday.
Insurance firm Mutua Madrilena, meanwhile, wants to switch back to Renault with Alonso, but is understood to be under binding contract to McLaren for 2008. Ron Dennis said recently that none of his team’s sponsors are contractually linked with specific drivers.
The three major Spanish sponsors’ super-fund to woo Alonso, however, could cost Renault its title sponsor ING, due to the clash with banking rival BBVA, ‘As’ added.
It is also claimed that even if Alonso does not meet Briatore’s Tuesday deadline, it does not mean that he ultimately will not return to Renault next season.
Furthermore, if the Spaniard does choose against Renault, the Spanish super-fund sponsors may simply follow Alonso to his definitive 2008 team, such as Toyota.
Red Bull, however, would be unlikely to receive the backing, due to the Austrian squad’s reluctance to sell the advertising space on its formula one livery.