Benetton Formula
On 16 March 2000, Renault purchased Benetton Formula Limited for $120 million, to return to Formula One. The history of the team acquired by Renault started in 1981 as the Toleman Motorsport team, based in Witney, Oxfordshire, England. In 1986 the team was renamed to Benetton Formula, following its purchase in 1985 by the Benetton family. In 1992/3 the team moved a few miles to a new base in Enstone. Renault continued to use the Benetton constructor name for the and the seasons, with the Renault name returning in 2001 as an engine brand. When reporting the purchase the "International Herald Tribune" commented that "the team will not race under the Renault name until it is ready to win and reap the marketing benefits". It was not until 2002 that this name change occurred.