Rumors: Fernando Alonso signs letter of intent to rejoin Renault in 2008 

Written by David on October 11th, 2007 at 11:08 amLast Update: October 11th, 2007 at 11:08 am

Fernando AlonsoAccording to emerging reports, two times World Champion Fernando Alonso, signed a letter of intent to rejoin Renault starting next January (2008). According to German newspaper Bild, the document is the precursor to a definitive 3 year contract (2008-2010), but only if the reigning world champion can successfully negotiate an end to his current McLaren deal.

Alonso is currently under contract to McLaren also for 2008, with an option to continue in 2009. The news of Alonso’s likely return to Renault follows reports that Toyota was offering the Spaniard a record retainer to switch to the Japanese car giant for 2008. The German magazine Sport Bild said the Cologne based team was prepared to pay (US) $150 million for a three year deal; a comparable amount of money to that earned by Michael Schumacher at Ferrari towards the end of his illustrious career.

source: GMM

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