Renault’s F1 sponsors crash out of contracts

Renault was yesterday hit by the fallout of its Formula One team’s “Crashgate” scandal after two of its sponsors announced they were terminating their contracts with immediate effect. ING, the Dutch bank and Renault Formula One’s title sponsor, said it was “deeply disappointed” at the sequence of events that resulted in the team’s two-year suspended ban for ordering one of its drivers to crash deliberately in last year’s Singapore grand prix.