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1 1,376 views May 13, 2009

The rules at the heart of the dispute center around a 'two-tier' budget proposal

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As was expected on Wednesday, Renault confirmed that it too is threatening to quit formula one over the budget cap issue.

The Flavio Briatore-led outfit said it is the two-tier element of Max Mosley's 2010 rules that has caused its French parent to "reconsider its entry in next year's" world championship.

In a statement, Renault also complained that FOTA's cost-saving proposals have been "completely ignored", while it also wants "a better balance between the costs and the revenues".

"We remain committed to the sport, however we cannot be involved in a championship operating with different sets of rules, and if such rules are put into effect, we will be forced to pull out at the end of this season," said Renault team president Bernard Rey.

Briatore added: "We refuse to accept unilateral governance handed out by the FIA. If the decisions announced by the World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula One World Championship at the end of 2009."