Prodrive facing competition for Renault buy-out

Renault are likely to make a decision on their Formula One future next week with two rival groups now in the running to take over.

The French manufacturing giant's main company board is to address the issue, and it is anticipated they will confirm their favoured choice soon after.

David Richards' Prodrive organisation seemed poised to acquire the team, however, it has emerged the former Benetton and BAR boss now faces competition from entrepreneur Gerard Lopez.

Lopez runs the Luxembourg-based Mangrove Capital Partners which is one of Europe's leading venture capital firms.

However, he is also involved in driver management via the Gravity sports organisation which looks after several promising drivers.

One of those is Ho-Pin Tung from China who this week was on view in the young driver test at Jerez with Renault.

The 27-year-old's manager Bert Winkler has confirmed the link is no accident, and now he is hoping Lopez gets the nod from Renault to take up the reins.

"This is indeed the reason why Ho-Pin was given the opportunity to test for Renault," Winkler told Dutch motorsport website, formule1.nl.

"This is a very exciting time for us. If they really can take over the team, there is a possible future for Ho-Pin in Formula One in the offing.

"A lot of things need to fall into place, but it's great Gerard has stuck his neck out.

"Now it is time to cross fingers and hope the coin lands on the right side."

Source: Prodrive facing competition for Renault buy-out - Planet-F1 News - from planet-f1.com