Thursday 16th March 2000
Renault bought Benetton for US$110 million, less than three years after dropping out of the sport, with Flavio Briatore installed as the team principal. Benetton’s chairman Luciano Benetton said they had been driven out by the rising costs of grand prix racing. “Competing is all about winning and if you have a budget that’s less than the others, you can’t expect miracles,” he said.
