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Lopez breaks silence on Renault F1 bid

9 December 2009

Gerard Lopez, founder of both Gravity Sports Management and technology investment company Mangrove Capital Partners, has revealed that he is interested in buying the Renault F1 team.

Speaking at the Motor Sport Business forum in Monaco, he added that now was a good time to enter F1.

"We are very opportunistic," he told British newspaper, The Guardian. "We have been in F1 for quite a while as friends to lots of people there, we have done some business in the environment, and never thought about getting more heavily involved than that.

"The situation is such now that it presents an opportunity for new teams or new investors in a time, not of uncertainty, but of change. We are in the middle of times of change. We have looked at one other opportunity, and that is about it.

"We believe there is a chance now to enter the sport and build on a platform that will reinvent itself, and we can be part of that reinvention."

Lopez is believed to be one of four options Renault is considering, along with one from Prodrive boss, David Richards [see separate story - click here].

"It would be very different from a start-up team," Lopez continued. "If we were to do a deal with Renault, we would still be basing ourselves as a constructors' team, but it will be a different kind of business.

"For us, it is important to confirm the stability over time. The business opportunities should rely not on making more out of the team, but it should be about making money out of the business platform we have."

Renault is expected to make an announcement on the future of its F1 team before Christmas.

More to follow as and when we get it...




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