Renault has signed two-time Formula One world champion Fernando Alonso for the 2008 season, Spanish media reports said Monday.
Newspaper El Mundo said Alonso had agreed to a euro35 million (US$51.3 million) deal 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 motorsports governing body FIA decided against penalizing Renault for possessing confidential information about rival team McLaren.
The 26-year-old Spaniard finished third in the 2007 drivers' standings with 109 points after a turbulent season with the British team that included rocky relations with rookie driving partner Lewis Hamilton and a spy scandal that cost McLaren US$100 million (US$147 million) and all of its constructors championship points. Alonso made his F1 debut with Renault in 2001, going on to become F1's youngest world champion with the first of his two titles in 2005.
In 105 races entered, the Oviedo native has won 15 races and finished on the podium 49 times.
Reports also indicated that Nelson Piquet Jr. was set to partner Alonso. Giancarlo Fisichella and Heiki Kovalainen drove for Renault in 2007.