Eddie Jordan Backs Renault Not To Quit F1

Eddie Jordan has tipped Renault to stay in Formula One despite speculation the French team may be about to follow Toyota off the track.

The French team is holding an emergency meeting in Paris on Thursday, fuelling speculation that it may be the glamour sport's latest casualty.

Honda, BMW and tyre company Bridgestone have all walked away this year, followed on Wednesday by Japanese car giant Toyota.

Speaking on Jeff Randall Live, the former owner of the Jordan F1 team said he would be shocked if Renault chose to pull the plug.

"Remember, motor racing is in their blood; they've been champions," he said.

"I will be surprised with Renault if it's a doom and gloom story."

Former world champion Fernando Alonso, who won back-to-back titles with Renault in 2005 and 2006, is leaving the team.

It was also embroiled in controversy in the season just ended, with its boss and chief engineer handed bans in a race-fixing scandal.

But Renault has signed talented Polish driver Robert Kubica and been linked with German racer Timo Glock.

Jordan added: "I'd be surprised if they were that active in the market to suddenly just willy-nilly pull out."

It was a different story for Toyota, which apologised to its followers as it announced it will not race next year.

Toyota president Akio Toyoda said: "In terms of Formula One, we will make a complete withdrawal.

"It was a tough decision because we are betraying the expectations of fans."

The Japanese manufacturer, which has seen car sales collapse in the recession, said its decision reflected "the current severe economic realities".

Toyota is estimated to have spent about £250m a year running its F1 team - but Jordan told Sky News he did not think money told the whole story.

"They've been hugely unsuccessful in their escapades in Formula One. They've been around for seven or eight years now and they've yet to win a race," he said.

"When you see the kind of resources - financial and technical - that they have at their disposal, this has been pretty much a disaster."

Toyota may face a row with the sports governing body, the FIA, having recently committed to race until 2012.