Renault have held an emergency board meeting in Paris to discuss pulling out of Formula 1 with immediate effect.

The French car company was considering whether to remain in the sport with its own team, switch to simply being an engine supplier or quit altogether.

The outcome of Wednesday's meeting was not immediately forthcoming.

News of Renault's possible exit comes on the day Toyota said it was quitting F1, becoming the third car company to leave the sport in the last 11 months.

Renault's emergency board meeting was attended by F1 team bosses Bob Bell and Jean-Francois Caubet, although neither man was allowed to take part in the debate about the team's future.