Formula One’s cost-cutting measures should secure Fernando Alonso´s team-Renault’s future in the sport despite the departure of title sponsor ING, according to team boss Flavio Briatore. Dutch-based banking and insurance company ING, whose backing has provided a significant slice of the former world champions’ budget, announced earlier that they were pulling out of the sport at the end of the season. “In light of the recently announced cost reduction programme, ING confirmed today not to renew the three-year sponsorship (2007-2009) contract with Renault F1 and to end its presence in F1 beyond the 2009 season,” ING said.The team said on their website that they completely understood ING’s decision.