The French newspaper Le Figaro, claims that Renault will announce later today, that it will not enter the 2010 Formula One World Championship if the FIA adheres to its current plan for a budget cap that would lead to a two-tier championship.

Already, Ferrari, Toyota and the Red Bull teams have said that they will not enter, while BMW is also known to be thinking along the same lines.

Following the most recent proposals from the FIA, which also brought forward the entry date for inclusion in the 2010 championship to May 29, the Formula One Teams Association met and called for urgent talks with the sport's governing body.

While the FIA is seeking a £40m budget cap, which would include greater technical freedom for those that adopt it, the teams are thinking more along the lines of £65, but to be introduced over the next three years.

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Renault to follow Ferrari's lead?

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