Renault have signed two-time Formula One world champion Fernando Alonso for the 2008 season, Spanish media reports claim on Monday. Newspaper El Mundo said Alonso had agreed a 35 million euro ($51.3 million) contract and that an announcement was expected imminently. The length of the contract was not reported.Alonso had been linked with a return to Renault ever since he was released from his three-year contract with McLaren in November.
A move to the French team gained momentum on Friday when governing body FIA decided against penalizing Renault for possessing confidential information about McLaren.
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