Damon Hill may reconsider his future in Formula One racing after Renault announced yesterday that they will quit Formula One at the end of 1997.

Hill, who is leading the championship by 21 points, said: "I am pretty foot loose and fancy free at the end of this season. Renault's announcement might have some bearing on my decision for the future, but it's too early to think about it."

Honda may return to Formula One in 1998 when Renault leaves. The Japanese engine builder has already been linked with the Williams team. The Benetton team will still need to find a replacement.

Honda dominated Formula One from 1986 until 1991 when they withdrew from the top racing scene because the developments and improvements made by them were band time and time again by the FIA.

Honda is already present in Formula One with the Ligier team but under a different name: Mugen Honda. These engines are getting better and better all the time.

A Honda spokesman stated: "There is nothing official at the moment, but 1998 is our 50th anniversary."