Renault have joined Ferrari, Toyota, Red Bull and Toro Rosso by threatening not to enter the 2010 F1 world championship unless changes are made to the proposed £40 million budget cap.
The French manufacturer became the latest team to make public its grievances in the wake of Ferrari's dramatic announcement on Tuesday afternoon.
"If the decisions announced by the (FIA) World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula One World Championship at the end of 2009," said Renault president Bernard Rey.
The controversy centres over plans rushed through at the end of last month by the FIA, the sport's governing body, to introduce a budget cap for next year in exchange for greater technical freedom.
While some of the smaller, independent teams, are known to favour such an option - Force India, Williams and Brawn GP for instance - the larger teams are not prepared to be dictated to in such a way. Nor does anyone want a 'two-tier' system in the sport, which would be confusing for spectators.
The Formula One Teams Association presented their own 'blueprint' for cutting costs in the sport back in February, and are upset that their proposals were completely ignored.
Representatives from FOTA will now meet with Max Mosley, the FIA president, in London on Friday in an effort to thrash out some sort of compromise.
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