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.”
Aug 29, 2015, 7:25 PM EDT
Power does it again in qualifying at Sonoma.
Aug 29, 2015, 7:13 PM EDT
Oriol Servia reflects on Justin Wilson.
Aug 29, 2015, 5:45 PM EDT
Power is only active driver in the field with a pole since 2008 at Sonoma.
Aug 29, 2015, 4:19 PM EDT
Marquez beats his own lap record for pole position at Silverstone.
Aug 29, 2015, 2:42 PM EDT
All-American top three as track record eclipsed, unofficially, at Sonoma.
Aug 29, 2015, 2:00 PM EDT
Trulli looks poised to stick with its own powertrain for despite only completing seven laps in pre-season.
Aug 29, 2015, 1:00 PM EDT
Second practice for the Verizon IndyCar Series’ GoPro Grand Prix of Sonoma is live from 10:30 a.m. PT, 1:30 p.m. ET, today on NBCSN.
Aug 29, 2015, 11:00 AM EDT
Bottas had been linked with a seat at Ferrari for 2016, until the team confirmed that it would be retaining Kimi Raikkonen.
Aug 29, 2015, 10:00 AM EDT
Lotus technical director Nick Chester reveals the cause of Maldonado’s DNF in the Belgian Grand Prix.
Aug 29, 2015, 9:03 AM EDT
Marc Lieb and Romain Dumas take Porsche to its fourth pole position of the season, edging out the sister no. 17 car.
Aug 29, 2015, 4:38 AM EDT
Marc Lieb storms to the top of the timesheets in the no. 18 Porsche, heading up a 1-2 finish in FP3.
Aug 28, 2015, 10:38 PM EDT
The title contenders sum up their chances heading into Sonoma.
Aug 28, 2015, 9:11 PM EDT
A long day on Friday ends with Will Power on top of the timesheets.
Aug 28, 2015, 8:11 PM EDT
Quick series of interviews and tributes flow in for Justin Wilson on site at Sonoma.
Aug 28, 2015, 7:16 PM EDT
The 10th place driver in NHRA Top Fuel standings gets released from his contract at DSR.
Aug 28, 2015, 6:40 PM EDT
Sage Karam speaks with reporters Friday at Sonoma Raceway.
Aug 28, 2015, 5:00 PM EDT
Marquez and Lorenzo continue their fight at the front of the MotoGP field in practice at Silverstone on Friday.
Aug 28, 2015, 4:09 PM EDT
IndyCar concludes its season at Sonoma this weekend.
Aug 28, 2015, 3:30 PM EDT
Prost and Buemi retained by the defending teams’ champion for season two.
Aug 28, 2015, 2:30 PM EDT
Porsche will debut a new aero kit at this weekend’s 6 Hours of Nürburgring in Germany.
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