
"There has been a lot of talk but Fernando has a contract with another team for 2008," Briatore said in an interview on his team's website.
"At the moment, he is focused on the championship battle, trying to win a third consecutive title. I have said before that if he was free we would be happy to have him back at Renault."
Alonso currently lies four points behind McLaren team-mate Lewis Hamilton in the drivers' standings with just the season-ending Brazilian Grand Prix on October 21 to come.
Ferrari's Kimi Raikkonen, who is a further three points adrift, also harbours slim hopes of winning the championship title.
Although he is contracted to McLaren for the 2008 season, it remains unclear whether Alonso will remain following his public spats with Hamilton and team boss Ron Dennis, the latest coming at the Chinese GP in Shanghai on October 7.
Giancarlo Fisichella and Heikki Kovalainen currently occupy the two seats at Renault but there is little doubt that one would be sacrificed to facilitate the return of double world champion Alonso.
"There is no rush to make an announcement at this stage. When we are ready and we have made our decision, we will announce it," said Briatore.
"But we are in a strong position with good options."