Renault hopes for Telefonica cash

The Renault F1 team is still chasing a title sponsor to replace Mild Seven in 2007 and given the time it has taken since Mild Seven announced it will be departing, this is not proving to be an easy task. In recent months we have heard stories of various companies, notably Mastercard, but the rumours suggesting that Telefonica pay $30m suggests that either this is not a title sponsorship deal or that the value of the title sponsorship has dropped considerably. Given the amount of TV coverage that Renault has generated in recent years a title sponsorship deal should be worth a great deal more.

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