Magnussen, whose F1 career appeared to have stalled after he
spent last year on the sidelines and then got cast aside by
McLaren, has replaced Pastor Maldonado after the Venezuelan's
funding dried up.
He will partner British rookie Jolyon Palmer, whose signing was
announced last year by the team when they were racing as Lotus
F1. Frenchman Frederic Vasseur will run day-to-day operations as
Renault bought back the team, which they had sold at the end of
2009 after winning championships with Spaniard Fernando Alonso
in 2005 and 2006, last December. They will now compete under the
Renault Sport Formula One name.
(Reporting by Alan Baldwin, editing by Larry King)
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