Formula 1: Renault to stay in sport despite job losses

The boss of Renault says the French car company will stay in Formula 1 beyond the end of this season. Interim chief executive Clotilde Delbos said: “We confirm that we intend to stay in F1. F1 has introduced a sliding-scale budget cap, starting at $145m (£114m) in 2021, reducing to $140m in 2022 and settling on $135m in 2023-25. Renault has a smaller operation than top teams Mercedes, Ferrari and Red Bull and sees the cap as an opportunity to return to competitiveness.

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