Jul.1 (GMM) Eric Boullier has hit back at reports the Renault team is not in good financial health.

The rumours began to emerge during the Monaco grand prix weekend, with team boss Boullier suspecting they might have been maliciously spread by his predecessor Flavio Briatore who was conspicuously present in the Principality.

Some media sources claim that Frenchman Boullier is so unhappy about the possibility Briatore could be behind the rumours, including reports of alleged debts to team engine supplier Renault, that he is considering defamation action against the flamboyant Italian.

"The future is very clear and bright," Boullier insisted to BBC Radio Oxford.

"We have solid sponsors, we have solid owners with a good financial background, we have some good plans."

As for the source of the rumours, he said: "I understand there is some jealousy around in the paddock and some people who want to tease us.

"Affecting the morale of the people obviously was their target which was a bit naughty."

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