Bear with us on this one, since it may at first glance seem a little confusing. Renault who used to own and run the F1 team called Renault F1, pulled out of the sport at the end of the 2009 season at the peak of the economic downturn. Shortly after it was announced that Genii Capital, led by Gerard Lopez, had bought a majority stake in Renault F1 and it was this team which competed in the 2010 F1 season with drivers Robert Kubica and Vitaly Petrov.
This morning with the announcement of the partnership between Group Lotus and Genii Capital, Renault finally step back from being an F1 team owner into being purely a supplier of engines and technology. This new supply company will be called Renault Sport F1.