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After hinting at its displeasure, Renault has joined the the threats made by other manufacturer-supported teams (Ferrari chief among them) that they'll quit F1 if the FIA doesn't change its proposed rules for next season. The motorsport governing body put forward a new set of regulations that would effectively create a two-tier system in Formula One, forcing teams to choose between severely capped budgets or even further restricted parameters for building and fielding their cars in the series.

Like the other corporate teams, Renault can afford to sit out the season, objecting that the teams' voices have fallen on deaf ears and that the FIA is governing unilaterally, putting the onus on Max Mosley to rethink his strategy or else watch all the major teams march out. With the deadline for registration rapidly approaching, the controversial FIA chief is set to meet with the Formula One Teams Association sometime this week to see if they can iron out a deal, so stay tuned, or follow the jump to read Renault's statement in full.

[Source: Renault]

Renault and ING Renault F1 Team Statement

The decision of the Fédération Internationale de l'Automobile (FIA) to introduce two sets of Formula One technical regulations for the 2010 Formula One season has caused the Renault Group to reconsider its entry in next year's FIA Formula One World Championship.

There is frustration that FOTA's constructive proposals, including major cost saving measures to be adopted progressively between 2009 and 2012, which were carefully constructed by FOTA members, have been completely ignored without any form of consultation by the FIA with the teams.

It should be stressed that FOTA has set the same, if not lower, financial objective as the FIA, but Renault strongly believes that this must be introduced through a different procedure agreed by all parties.

Renault also believes that it is paramount that the governance of the sport is coordinated with a spirit of consultation with all parties (FIA, FOM, FOTA) in order to achieve a better balance between the costs and the revenues. Renault is also of the firm view that all entrants in the World Championship must adhere to and operate under the same regulations.

President of the ING Renault F1 Team, Bernard Rey, commented: "Renault has always considered Formula One as the pinnacle of motor sport and the perfect stage to demonstrate technical excellence. We remain committed to the sport, however we cannot be involved in a championship operating with different sets of rules, and if such rules are put into effect, we will be forced to pull out from next season."

ING Renault F1 Team Managing Director, Flavio Briatore, commented: "Our aim is to reduce costs while maintaining the high standards that make Formula One one of the most prestigious brands on the market. We want to achieve this in a coordinated manner with the regulatory and commercial bodies, and we refuse to accept unilateral governance handed out by the FIA. If the decisions announced by the World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula One World Championship at the end of 2009."

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