Tuesday January 13th, 2004

Spain's telecommunications giant Telefonica looks set to return to Formula One to sponsor Fernando Alonso and his Renault team, reports in the Spanish press claim.

Telefonica left Formula One at the end of the 2000 season after two years sponsoring the struggling Minardi team while Spaniard Marc Gene, now a Williams tester, drove for the Faenza-based squad.

The Spanish company's return to F1 seems closer, however, as reports claim it's about to strike a €6 million a year deal to sponsor the Renault team, as well as Spanish sensation Alonso, this season.

Telefonica had already sponsored Alonso when he drove in F3000 with the Astromega team in 2000.

According to reports, the deal is expected to be announced when Renault unveil their new car on January 29th in Palermo, Italy.

Published at 11:41:51 GMT

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