Renault Sport F1 boss Cyril Abiteboul says the loss of Red Bull Racing as a customer team will lead to diminished revenue for the French manufacturer but won't impact its budget.
After a 12-year partnership marked by four Drivers' and four Constructors' titles, Red Bull will sever ties with its engine supplier at the end of the season, and switch its allegiance to Honda.
The change - along with the loss this year of Toro Rosso - will deprive Renault of an annual revenue stream estimated at around 25 million euros.
"We will receive less, but we will not have less to spend," Abiteboul told French daily L'Equipe.
"Supplying engines to Red Bull required money but did not generate much revenue. So parting with them will not affect our budget."
In addition to its works outfit, Renault will rely on McLaren, its sole customer, for the development of its power units.
"We supply them with engines because it is important to have two teams for data collection," said the Frenchman.
"For the company's interests and in terms of marketing, it starts and ends with the yellow cars of Renault Sport F1."
Asked if his company was now relieved by the fact that Red Bull's plans for the future were now clear, Abiteboul did not agree with the characterization.
"It's not a story that ended badly," he said.
"I don't like the word relief. I prefer to talk about the logical development of events.
"For us I am happy, because now we can concentrate on preparing for 2021. And I'm happy for Red Bull Racing, as they have found a new partner, and for Honda, because we have four manufacturers in Formula 1.
"We just needed an answer, and that's why we hurried our partners a little. And I thank them for that," Abiteboul added.
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