Ghosn says Renault won’t slash budget

Mon, 29 May 2006, 08:48

Carlos Ghosn has dismissed speculation that Renault will soon endure a slashed budget for F1.

The French carmaker’s CEO, visiting Monaco for the glamorous grand prix, denied that Renault only signed up for F1 beyond 2007 because of Max Mosley’s vision to radically cut costs.

”We are the second most profitable group in the industry,” Ghosn insisted.

”The budget does not come first. First we say, ‘It is your responsibility to compete at the top level and win – what is the budget that you need?’ ”

Even so, Renault is not one of F1’s big spenders, with team boss Flavio Briatore delivering the titles last year despite being out-spent by at least four rivals.

But Ghosn said: ”I would be very embarrassed if I had the biggest budget and no results.”gmmf1

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