Renault has ended the speculation surrounding its Formula One team after confirming they will definitely be on the grid for the 2010 season.

The French team has struck a deal with Luxembourg businessman Gerard Lopez and his Genii Capital investment company which has secured their future in the sport.

Renault, who had considered ending their lengthy association with Formula One, will retain a 25 per cent stake in the team, which will still be known as Renault F1.

"In 2010, the team will retain its name, its identity and the core ingredients that led to the successes achieved in 2005 and 2006," read a team statement.

"Formula One remains one of the biggest sporting spectacles in terms of annual television audiences and media exposure.

"Renault therefore believes that the impact of Formula One in terms of image, and brand awareness worldwide, particularly in new, emerging markets, will continue to play a key role in fulfilling the company's growth objectives in years ahead."

Renault's future has been in doubt since they held an emergency board meeting in November to discuss whether to pull out.

The global financial downturn and a turbulent year which saw team boss Flavio Briatore and engineering director Pat Symonds banned from motorsport for their part in a race-fixing scandal were both thought to be to blame.

"I am delighted to welcome Genii Capital as our new strategic partner as I am sure that their enthusiasm and business expertise will create a new dynamic for the team, the staff, and our partners," said team president Bernard Rey.

"Altogether, we look forward to competing again at the highest level in Formula One."