SEPTEMBER 3, 2005

Renault and Telefonica

There are rumours in Spain suggesting that Telefonica could be returning to Formula 1 with its Movistar brand.

There are rumours in Spain suggesting that Telefonica could be returning to Formula 1 with its Movistar brand. The company has been heavily involved in MotoGP in recent seasons, supporting the efforts of Sete Gibernau and Marco Melandri in Faustus Gresini's Honda team. The word is that the team is about to land sponsorship from Gauloises and Fortuna and that Telefonica may decide to leave to join forces with Fernando Alonso in Formula 1.

The Renault team is currently funded by Mild Seven but with the increasingly restricted tobacco advertising. Renault is out looking for a new backer and Spain in the obvious target because of Alonso and because of the company's ambitious expansion plans in the Spanish markets.

Telefonica backed Alonso early in his career.