Flavio Briatore formed the Renault team in 2001

The 56-year-old, who led Renault to the Formula One constructors' title last season, has committed himself to the team for a further two years.

Gazzetta dello Sport had quoted the Italian as saying that he will delegate some of his duties in 2008.

But Briatore said: "Back seat? On the motorbike, I don't have a back seat. There's one seat and it's my seat."

Renault has just announced that Finn Heikki Kovalainen will replace world champion Fernando Alonso next season.

And Briatore, who also won the constructors' title with Benetton in 1995, said he signed his new contract with Renault in order to maintain continuity after a period of change at the French team.

"I was pushed to carry on for two reasons," he added in the Gazzetta dello Sport interview.

"First, the fact that Renault's new president Carlos Ghosn is fully behind the F1 project.

"Second, the team will lose Fernando Alonso, so I preferred to give continuity to the work."

Briatore also admitted that Alonso decided to move to McLaren because he did not feel valued at Renault.

"When Fernando decided last winter, Renault was changing president and there were no guarantees on the future," he said.

"Alonso wasn't feeling valued properly so he accepted a proposal. I don't step in over the choices of the drivers I manage - I only take care of their contracts and sponsors."