Renault give Alsonso £70million deal on his return
by JONATHAN McEVOY - More by this author » Last updated at 22:13pm on 9th December 2007
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Fernando Alonso will be unveiled as a Renault driver in the next 48 hours, ending his brief period of unemployment with a £10million-a-year pay rise.
The Spaniard has agreed a massive three-year deal worth up to £70m, though a get-out clause potentially allows him to walk away in 12 months.
It is a pleasing outcome for Alonso, who maintains his status as the secondhighest earner on the grid behind Ferrari's world champion, Kimi Raikkonen, five weeks after being dismissed by McLaren.
Alonso has received assurances that he will be granted outright No 1 status on his return to the French manufacturers, given how McLaren's policy of equality between him and Lewis Hamilton was the source of bitter infighting last season.
Alonso's signing follows last week's World Motor Sport Council decision not to penalise Renault for spying on McLaren. He is likely to be partnered by rookie Nelson Piquet Jnr, the 22-year-old son of Brazil's three-time world champion.
With Alonso's future resolved, the rest of the driver market can finally slot into place. It leaves last year's Renault drivers Heikki Kovalainen and Giancarlo Fisichella looking for a seat, possibly at Toyota, who have booted out Ralf Schumacher.
Kovalainen has also been touted as Hamilton's next team-mate. He is the preferred choice of the Hamilton camp and is seen as a good team player who would not cause undue disturbance in the way the temperamental Alonso did.
His hopes of securing the dream move have been boosted by the news that Nico Rosberg, McLaren's top target, has signed a contract extension at Williams.
McLaren were prepared to hand him a 10-fold rise to £5m per year to tempt him but Rosberg's employers have dug deep into their own pockets.
He said: "Williams have made me an attractive, far better offer with a new contract up to the end of 2009 and I decided to accept it. For Williams, the question of letting me go never came up."
Kovalainenwould appear to be in a two-way fight with McLaren's experienced test driver Pedro de la Rosa. A veteran of 72 grands prix over eight years, he represents the safe option and is popular within the team.
As a Spaniard, he would also satisfy several of McLaren's sponsors, who stand to lose out from Alonso's departure.
De la Rosa's fellow test driver, Gary Paffett, has also been linked with the race seat, but his chances are remote.