Reigning Formula Renault 3.5 champion Carlos Sainz has praised the F1 feeder series just hours after the news that Renault Sport would remove its funding by 2016.

Renault Sport has maintained the 3.5 category as its flagship series over the past eleven years, promoting the likes of Sebastian Vettel, Daniel Ricciardo and Toro Rosso rookie Sainz to F1.

Sainz - title winner with DAMS last year -acknowledged that Renault's long-standing championship has benefitted some of F1's best emerging talent.

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"I haven't read so much about it lately but it is a championship I appreciate a lot obviously and I hope it keeps on going because I feel it is a main event," he said. "As a young driver you never feel you are the main event, the main guy, but in the World Series you could feel that.

"I think that this works well for every driver."

While the World Series by Renault will remain, FR3.5 will be dropped at the end of this season, leaving its future in doubt. The championship has recently battled cost-cutting measures and may need to rely on a new manufacturer.

"I'm not sure what effect Renault pulling out will have I just hope it has a positive effect because it is a championship I appreciate a lot but I am not sure what will happen," continued current title holder Sainz.

"I have the memories a lot of wins and good moments back in the day with my team. There were good circuits to like we kept going to Spa, Paul Ricard, and Monaco. They were good memories."

The 2015 FR3.5 season still has four rounds to contest, including one at Silverstone in September.