Fernando Alonso has confirmed on an announcement on his website that he has signed a two-year deal to drive for the Renault team with which he won the world title in 2005 and 2006.

The 26 year old Asturian ace will receive €35 million euros a season, making him the best-paid driver on the circuit.

In his website statement, Alonso described Renault as a "team of greats, backed by very important companies. A team that knows how to win. Choosing a team took little less than a week because both I and my team of advisers were pretty clear about what we wanted."

Alonso set to rejoin Renault
By: thinkSPAIN
Friday, December 7, 2007

After the Renault team was cleared yesterday by the FIA of spying on the McLaren team, reports today in the AS sports daily and on Cadena Ser radio, claim that "the final obstacle" has now been removed for Fernando Alonso to rejoin the team with which he won his two world titles before his traumatic year alongide Lewis Hamilton at McLaren-Mercedes.

It seems that Alonso will sign a two year deal - possibly at the start of next week - with a clause that would enable him to leave after one season if things fail to work out.

This would make it possible for him to sign for Ferrari for the 2009 season.