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.”
Apr 1, 2015, 3:00 PM EDT
A double pole, double win debut weekend for Trevor Carlin’s team was a statement – but the team’s big takeaway was how different the U.S. environment is.
Apr 1, 2015, 1:47 PM EDT
Helio Castroneves pulls an April Fool’s prank.
Apr 1, 2015, 1:15 PM EDT
A challenging weekend for Scott Dixon occurs from qualifying through the race in St. Petersburg.
Apr 1, 2015, 12:18 PM EDT
Pierre Gasly to test STR10 after Spanish Grand Prix weekend in May.
Apr 1, 2015, 11:30 AM EDT
While St. Petersburg had its positives as a weekend, Tony DiZinno reflects on two disconcerting themes that emerged from the race itself.
Apr 1, 2015, 10:54 AM EDT
ABC Supply steps up again, now as Pocono race title sponsor.
Apr 1, 2015, 10:03 AM EDT
Alexander Rossi looks ahead to the upcoming GP2 season.
Mar 31, 2015, 6:04 PM EDT
Off the Grid Mexico kicks off with episode one of a six-part digital series.
Mar 31, 2015, 4:17 PM EDT
Jann Mardenborough and two spectators were released after this weekend’s VLN crash at the Nurburgring.
Mar 31, 2015, 3:00 PM EDT
Subaru’s Red Bull GRC challenger revealed.
Mar 31, 2015, 1:52 PM EDT
ESM recaps its test from the Prologue at Paul Ricard.
Mar 31, 2015, 12:47 PM EDT
IMS statement comes out after Indiana’s recent religious freedom legislation.
Mar 31, 2015, 11:15 AM EDT
Catching up on the rest of the action from St. Petersburg, with a run through the moments of contact that triggered avoidable contact penalties.
Mar 31, 2015, 10:11 AM EDT
Rolling Stones to play at the Indianapolis Motor Speedway.
Mar 31, 2015, 9:33 AM EDT
Loose debris hit by a car, then goes over wall and hits a fan outside Turn 10 at St. Petersburg.
Mar 30, 2015, 4:00 PM EDT
Hawksworth, Filippi impress on opening outings with their new teams in St. Petersburg.
Mar 30, 2015, 3:15 PM EDT
IndyCar’s “old guard” reigned in St. Petersburg, as the new manufacturer aero kits debuted.
Mar 30, 2015, 2:30 PM EDT
Victory number 70 of the Italian’s remarkable Moto GP career.
Mar 30, 2015, 1:35 PM EDT
However, Williams test driver Susie Wolff believes that women should be reaching F1 in a more organic way.
Mar 30, 2015, 12:00 PM EDT
KVSH’s Bourdais gets result after a consistent drive; KV’s Coletti stars but fades after late race splash-and-dash for fuel.
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