With Fernando Alonso having parted company with McLaren, the Spaniard's former manager and team boss, Flavio Briatore, has admitted to beginning work on a deal which could see the two-time champion return to the outfit with which he won both his titles.

"I have presented a project for the future to Fernando," the Italian told Gazzetta dello Sport. "If his desires coincide with ours, it can happen.

"I know how much he can still give Renault," he added. "But an agreement for one year would have no sense with an outlook projected for a period of time."

Renault is one of several offers Alonso is thought to be considering, with Toyota and Red Bull also thought to be interested in the Spaniard.

There is continued speculation that ultimately the two-time champion wants to join Ferrari, however, should this happen it might not be until 2009 or even 2010, hence Briatore's comment that he doesn't want Renault used as a 'stop gap' by the Spaniard.

It is widely thought that Heikki Kovalainen will be retained for 2008, however, the Finn is also thought to be one of the (many) names under consideration by McLaren.