Jaime Alguersuari, CEO of World Series by Renault promoters RPM, has confirmed that Formula Renault 3.5 will remain despite Renault pulling the plug on its lead championship.

The future of FR3.5 was in serious doubt after Renault Sport announced its intention to remove backing from the F1 feeder series to instead concentrate on the remaining series.

"I respect the decision of Renault, and at the same time, I would like to thank the French company for their permanent confidence in RPM," he told the press in a statement. "It's also time to extend my deepest gratitude to the men and women of Renault Sport Technologies for their involvement throughout these years."

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The Spaniard certainly seemed confident of the championship's future but remained coy on some details, including its name and 2016 calendar.

"FR3.5, a motorsport dream factory in single-seaters, will get a new start," he continued. "This is how it will be: more affordable, epic and faster!"

The separation of FR3.5 from the remainder of the WSR stable was announced in July. Oliver Rowland is the current championship leader and looks set to succeed Carlos Sainz to the title. More details regarding its future will be announced in due course.

"I'm firmly convinced that the new championship, whose name will be unveiled in the following months, will be, again, a leading single-seater series in motorsports".