There’s no stopping the exodus from Formula One. Renault held an emergency meeting to decide upon the fate of the F1 team and the board has decided to sell it.

At least there’s no shortage of buyers to take over the team as Prodrive and Genii Capital both made offers to take control over the team.

Genii Capital wants to take over the team financially but will have the team continue to be under Renault for two years. In addition, Genii will be funding Renault’s young driver’s program. Renault boss Carlos Ghosn favors this option.

The current F1 team officials, however, think that Prodrive’s offer is the better option especially with Prodrive boss David Richard’s experience in motorsport.

Any development on the matter will have a domino effect with the rest of the players. Robert Kubica has already been signed to drive for Renault next season but his contract states that he can opt out if the team is sold.

Source: Autocar