Share this article on LinkedIn Email

Renault is currently mulling over the latest terms offered by Bernie Ecclestone ahead of its planned return to Formula 1 as a constructor using the present Lotus team.

The French manufacturer is negotiating with F1 supremo Ecclestone over the financial arrangements of its acceptance as a historical marque.

With Renault taking a majority 65 per cent stake in Lotus - the deal signed off two weeks ago by both sides - commercial rights holders Ecclestone and CVC Capital Partners have agreed to the French manufacturer taking on historical constructor status given its previous F1 heritage.

It means Renault would receive additional revenues from Ecclestone's Formula One Management (FOM) body, along with Ferrari, McLaren, Mercedes, Red Bull and Williams.

At present FOM distributes 65 per cent of underlying revenues among all teams, with 15 per cent of that going to the five aforementioned outfits in the form of a premium payment.

Renault had argued it also deserved such status as it has been involved in all bar five F1 seasons since 1977, either as an engine supplier or with one of the two previous incarnations of its factory team.

Its managing director Cyril Abiteboul and Lotus co-owner Gerard Lopez met with Ecclestone on Wednesday to discuss the details of the payment.

Ecclestone's financial proposal differs from that initially suggested by Renault.

While one source indicated the F1 chief's proposal was "a good one", another suggested the two parties are "several million" apart, while there is also said to be a discrepancy over the timing of the payment.

Traditionally, Ecclestone spreads the payments to the teams over the course of a 10-month period in any given calendar year.

On this occasion it is understood Renault is looking for a considerable instalment up front in a bid to help get it up and running for 2016.