Renault has announced it will indeed sell a "large stake" in its Formula One team to Genii Capital, a Luxembourg-based company. Alongside that is the confirmation that the Renault team will remain intact and contest the full 2010 F1 season, while continuing to supply engines to Red Bull.
Although the Renault F1 web site says nothing about the size of the stake, various media outlets are reporting it's in the neigborhood of 75 percent. Renault says that the deal will be concluded in early 2010, and after that it will operate the team jointly with Genii Capital.
Already BBC Sport is attempting to stir the pot of controversy by suggesting the newly signed Robert Kubica (a refugee from BMW Sauber) might have doubts about competing on the newly cash-infused Renault F1 team.
"We would like to know about Genii Capital and who is doing what in the team -- a partner can be a sleeping partner or a controlling partner," BBC quotes Kubica's manager, Daniele Morelli as saying.
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