The Renault Sport F1 team says it's not planning to buy its way to success by signing up big name talents.

Company CEO Carlos Ghosn insisted that the factory squad can achieve its objectives in the sport without spending "hundreds of millions of euros".

"We are preparing for our return to the top of the podium by 2020," he is quoted as saying by La Presse. "The goal is to win under responsible economic conditions."

The team has been linked with big money approaches for Ferrari's Sebastian Vettel and Red Bull designer Adrian Newey.

"Of course, if there were no budget, we would hire the best drivers in the world," Ghosn said. "But we're not going to be the richest team.

"We have proven in the past that we can win while not being the ones who spend the most money or have the best drivers."

Ghosn indicated that he was happy with the team's current drivers, Nico Hulkenberg and Carlos Sainz.

However Sainz is only at Enstone on a one-year loan as part of a complicated engine supply deal involving Toro Rosso, Honda and McLaren. The team might not be able to retain his services long term.

Ghosn admitted that the team may be looking for a driver "who draws attention to our main markets".

"Therefore a French driver would be fine, a Russian driver would be fine," he continued. "A Chinese driver would extraordinary because we would have the attention of 1.3 billion consumers.

"But you have to find the driver to win so it's always a difficult equation," he added.

The team has been busy rebuilding its technical department, which was ravaged by a cash crisis before Renault took ownership. Recent signings have included former FIA technical officer Marcin Budkowski and Mercedes powertrain engineer Matthew Harman.

The latest rumour is that fabled F1 designer Adrian Newey is the latest name on Renault's shopping list. And the man in question stopped short of outright denying the possibility this weekend.

"I still work with Red Bull and, through the partnership with Aston Martin, them as well," he is quoted as telling Russia's Championat.

"I'm at Le Mans with my son, who is with SMP Racing, and I have nothing more to say for now," Newey added.

Gallery: The beautiful wives and girlfriends of F1 drivers

Keep up to date with all the F1 news via Facebook and Twitter