Renault consider leaving Formula 1.

Renault have called an emergency meeting on Wednesday to decide whether the team will stay in F1 as a team, switch to engine suppliers, or leave the sport completely.

Renault had their least competitive F1 season  this year since 2001 and finished the 8^th best constructor in a season marred by the ‘crashgate’ scandal. Previously they have won 2 drivers and 2 constructors championships and have competed in 265 races since their debut in 1977.

It is thought that the emergency board meeting will be attended by Renault F1 bosses Bob Bell and Jean-Francois Caubet, but they will have no say in the debate about the team’s future.

If they were to leave they would follow Toyota out of F1 who announced their departure this morning and leave only one manufacturer team in F1 – Ferrari.

Renault have recently signed Robert Kubica to drive for the team in next year’s 2010 season as well as a new timing sponsor – TW Steel who they would let down if they left the sport.