Apr 29, 2013, 10:02 AM EDT
Formula One’s smallest teams are to be put under even greater financial pressure as Bernie Ecclestone plans changes to how prize money is allocated.
Ecclestone plans to abolish the $10m payment made from the $698.5m prize fund to teams which finish outside the top ten in the points standings.
The payment was introduced at the end of 2009 when F1 sought new entries to the championship as BMW and Toyota left the sport.
Of the four new teams whose entries were accepted for 2010 one, US F1, failed to even start a race. HRT collapsed last winter and Marussia, who finished 11th last year, has not been offered a commercial agreement to remain in F1.
“They don’t have a commercial agreement because they are not in the top ten,” Ecclestone told The Telegraph. “We pay the top ten, that’s what we do. For three years we did something different because we had an agreement with [former FIA president] Max [Mosley] but from now on we will pay the top ten and that is it.”
Without Marussia the F1 grid could shrink to just ten teams fielding two cars each.
The move comes as Ecclestone prepares to float Formula One on the Singapore stock market this year. “It will happen this year and it will be up and running,” said Ecclestone.
“[F1 owner] CVC is getting on with it and putting all the bits and pieces together that they have to.”
Jul 7, 2015, 8:00 PM EDT
LeBron came back to Cleveland, but IndyCar isn’t. Yet.
Jul 7, 2015, 6:29 PM EDT
Scott Dixon’s 250th start comes at the same track he debuted with Chip Ganassi Racing at in 2002.
Jul 7, 2015, 3:39 PM EDT
Fast facts heading into this weekend’s ABC Supply Co. Wisconsin 250, courtesy of IndyCar PR staff.
Jul 7, 2015, 2:57 PM EDT
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Jul 7, 2015, 11:04 AM EDT
Wilson returns for final five IndyCar races of the year with Andretti Autosport.
Jul 7, 2015, 10:10 AM EDT
Next up for one of racing’s busiest drivers? ARCA debut in Iowa.
Jul 7, 2015, 9:44 AM EDT
Will Power dominated Milwaukee in 2014. Here’s how he did it.
Jul 6, 2015, 9:04 PM EDT
Degree of continuity at Coyne, as Mann and Vautier confirmed for next two short ovals.
Jul 6, 2015, 5:00 PM EDT
Scott Hargrove adds two more wins to his record after a one-day sweep of two Porsche races in Canada.
Jul 6, 2015, 4:04 PM EDT
IndyCar, Indy Lights drivers try to guess towns or cheeses in Wisconsin.
Jul 6, 2015, 2:04 PM EDT
The potential ripple effects of Austin Dillon’s catch-fence accident could extend far beyond NASCAR.
Jul 6, 2015, 1:14 PM EDT
Sandell, Dyne make it a double top-five for Bryan Herta Rallysport at MCAS New River.
Jul 6, 2015, 11:19 AM EDT
Leading 1-2 early, Williams was almost trapped, rather than able to seize its moment in Silverstone.
Jul 6, 2015, 10:00 AM EDT
A gamble on intermediate tires backfires for Kimi Raikkonen at Silverstone.
Race Recap: Hamilton sees off early Williams threat and late rain shower to claim third home victory
Jul 6, 2015, 9:00 AM EDT
The British driver sends the home crowd into raptures with his third Silverstone victory.
Jul 6, 2015, 8:30 AM EDT
After the latest Red Bull GRC round, we catch up with NBC Sports Group motorsports analyst Townsend Bell for a special Red Bull GRC installment of “Ten with Townsend.”
Jul 6, 2015, 8:00 AM EDT
Luke Smith gets a little patriotic following his home grand prix, explaining why F1 could stand to be a little more British in its mentality.
NHRA: Anderson wins 4th of ’15, Stoffer over Sampey in 3rd all-female final in NHRA history; Kalitta, Beckman also win
Jul 5, 2015, 9:53 PM EDT
Doug Kalitta (Top Fuel), Jack Beckman (Funny Car), Greg Anderson (Pro Stock) and Karen Stoffer (Pro Stock Motorcycle) took home wins in Sunday’s NHRA race in Norwalk, Ohio.
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