Renault has told the FIA that it will remain in Formula 1, despite the fallout from the Singapore race-fix controversy.
Although there had been widespread suggestions that the matter, which has resulted in a two-year suspended ban from F1, could see the French car manufacturer exit the sport, it has emerged the team informed the governing body this week that it was prepared to remain in the World Championship.
In a statement it submitted to the FIA at Monday's World Motor Sport Council hearing in Paris, Renault stated: "Renault F1 and its parent company have given serious consideration as to whether it should remain in the sport following the prejudice caused to its corporate image by the conspiracy, in addition to the existing background of financial pressures that have caused car manufacturers to withdraw. But it has concluded that it would like to remain in Formula 1 and continue to make an important contribution to the sport."
Renault also promised to introduce a new team structure in light of the events of last year's Singapore Grand Prix to ensure there can never be a repeat of what occurred. Flavio Briatore and Pat Symonds – who both face bans from involvement in F1 – have also resigned from the team.
Renault's Enstone, UK-based F1 team admitted to the conspiracy – and stated it could never have believed its staff would have acted in such a manner. The statement came after internal investigations within the team revealed that there had been a conspiracy for Nelson Piquet to deliberately crash in last year's Singapore event.
"Renault F1 had no reason to believe that the conspirators were capable of this kind of behavior. Clearly, the conspirators acted against the interests of Renault F1 and the sport generally," said the statement. "If they had applied their minds to their actions, they could not have thought that their actions benefited Renault F1. The acts of the conspirators were so outside what they were employed to do and so contrary to Renault F1's interests, they ought not to be attributed to Renault F1. This is truly a case where the conspirators were on a frolic of their own."
It added: "Renault F1 will introduce a new structure within the team and will review its internal procedures in an effort to ensure that this type of incident will never happen again."