- Renault news
Renault denies it is in financial trouble
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- Renault
Renault boss Eric Boullier has played down rumours that his team is in financial trouble.
Reports this weekend revealed that the team has asked Bernie Ecclestone to issue commercial payments for 2011 ahead of time. Some of the other teams refused the request.
Germany's Auto Motor und Sport reports that recent sponsor deals by Renault have not delivered in terms of actual cash, while Russian driver Vitaly Petrov ultimately brought only €1 million to the team. But Boullier denies that Renault is desperate for money.
"These are the usual games played by people who try to tarnish your image," he told AFP. "There is nothing to say. There is no problem."
Boullier insists that the only problem is a temporary cash-flow issue that is delaying technical development.
"I need to spend more because we want to finish the R30 and begin the R31," he added. "Like any normal company, I asked the shareholders to help us. We have television money that is coming, so why not ask for it in advance?"
He denied the team has a problem with its sponsors.
"We have signed three sponsors for the car and there are two more coming," explained Boullier. "Give us time. You don't sign a contract and the money comes the next morning. That's all."
© ESPN Sports Media Ltd.
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