Spaniard Fernando Alonso will reportedly remain at Renault next season after rejecting an offer from BMW Sauber.

Alonso is a hot commodity for next year's Championship as the double World Champion has yet to put pen to paper, making him arguably the best available driver.

And as such at least three teams are known to be chasing his signature; BMW, Honda and Renault.

However, according to Spanish sports daily AS, it is Renault who are set to succeed in their quest after Alonso turned down BMW and ruled out Honda.

The newspaper reports that BMW offered Alonso a multi-year deal, however, the Spaniard wasn't pleased with the duration as he wants to be free to leave for Ferrari should a seat become available at the end of 2010.

BMW, though, were insistent on a long-term contract, resulting in Alonso turning Mario Theissen's outfit down.

As for Honda the Spaniard is concerned by the team's lack of progress this season, which has resulted in a mere 14 points in 14 races and little sign that things are set to improve.

The Spaniard has therefore made his decision and is set to stick with Renault for the 2009 Championship in the hope of heading to Ferrari as soon as a seat is available.