Renault Plans To Quit Too!!!!!!!!!!!

Renault have joined Ferrari by wanting to withdraw from F1 next season unless recently-adopted rules are revised.

The proposed £40million budget cap would introduce a two-tier F1, sparking outrage, with five teams now confirming their intention not to compete from next year.

Renault team boss Flavio Briatore said: "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 co-ordinated manner with the regulatory and commercial bodies, and we refuse to accept unilateral governance handed out by the FIA.

Renault, like Ferrari, have also voiced their disgust at what they see as the FIA's failure to discuss the rule changes with all the teams.

Renault also believes it is paramount that the governance of the sport is co-ordinated with a spirit of consultation with all parties (FIA, FOM, FOTA) in order to achieve a better balance between the costs and the revenues.

Friday's meeting between Mosley and the teams would now appear to represent a critical juncture for the future of Formula One.