UNCERTAINTY hangs over the future of almost 500 workers at the Oxfordshire-based Renault F1 team after its top bosses quit.

Managing director Flavio Briatore and executive director of engineering Pat Symonds resigned before facing a hearing at the FIA World Motor Sport Council on Monday.

Renault has been at the centre of controversy after allegations that the pair conspired with former driver Nelson Piquet Junior to cause a crash, which then allowed team mate Fernando Alonso to win.

Last night the team said in a statement that allegations that the driver deliberately crashed during a race in Singapore would not be disputed.

It is feared that, despite the resignations, the team could face a severe penalty and even be banned from competing, which would put the jobs of Enstone-based workforce in jeopardy.

There had already been doubts over the future of the Renault team as it faced a major shortfall in its budget because its main sponsor, Dutch bank ING, is pulling out after this season.

The team also axed 60 staff in February after its net losses more than doubled last year to £10.3m and costs spiralled by 38 per cent to £158m — the highest on record in the sport.

A team statement said: “The ING Renault F1 Team will not dispute the recent allegations made by the FIA concerning the 2008 Singapore Grand Prix. It also wishes to state that its managing director, Flavio Briatore and its executive director of engineering, Pat Symonds, have left the team.”

It said no further comment would be made before next week’s hearing.

Last night, news of the resignations and the decision not to challenge the serious allegation was met with shock by Geoff Goddard, Professor of Motorsport Engineering Design at Oxford Brookes University.

He said: “I have known Pat Symonds for many years and he is one of the straightest engineers in the business. It is a tragedy for him.

“The resignations are a quick way for Renault to address the situation, but if it is eliminated from the championship it would destroy jobs and I do hope the FIA recognise that.”

The deliberate crash claim was originally made by Nelson Piquet Senior, in the wake of his son being axed by Renault after the Hungarian Grand Prix at the end of July.

The FIA's investigations led them to offer Piquet Junior immunity against prosecution in return for his testimony.