Apr 29, 2013, 10:02 AM EST
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.”
Jan 28, 2015, 5:15 PM EST
Take a look at a day in the life of Verizon IndyCar Series driver Josef Newgarden during the offseason.
Jan 28, 2015, 5:00 PM EST
Although he’s looking ahead to the 2015 season, Brad Keselowski did a bit of reminiscing Wednesday.
Jan 28, 2015, 4:30 PM EST
After breakout 2014, Logano looks ahead to an even better third year with Team Penske.
Jan 28, 2015, 4:15 PM EST
IndyCar’s preseason driver meeting just might reveal some clues about who could fill the remaining seats left for 2015.
Jan 28, 2015, 4:00 PM EST
Coming up: Interviews with the drivers of Roush Fenway Racing, Richard Petty Motorsports, and Team Penske. Plus, a look back on a shocking upset at the 1990 Daytona 500.
Jan 28, 2015, 3:29 PM EST
After being sidelined in 2014, Johanna Long will drive a number of races for a new race team in both the Xfinity and Camping World Truck Series in 2015.
Jan 28, 2015, 3:15 PM EST
While a small, one-car team that makes just over half the races of the season, there’s a lot of heart and motivation in the family oriented Leavine Family Racing team.
Jan 28, 2015, 3:06 PM EST
A family release issued Wednesday through NASCAR’s communications department said Pearson suffered the stroke Dec. 9 “but is doing great and well on the road to recovery.”
Jan 28, 2015, 3:00 PM EST
Former IndyCar race director Brian Barnhart will return to his old role for 2015.
Jan 28, 2015, 2:45 PM EST
Six more events “tentatively” added to the Wood Brothers’ 65th anniversary season.
Jan 28, 2015, 2:31 PM EST
Roush Fenway Racing president Steve Newmark said the team set up a meeting for Wallace with Maverick Carter, the agent who oversees much of James’ business empire.
Jan 28, 2015, 1:12 PM EST
Richard Petty Motorsports seeks sponsorship for 26 races for Sam Hornish Jr.’s team this season.
Jan 28, 2015, 1:02 PM EST
Horner also speaks with NBCSN’s Will Buxton about efforts from the team’s engine manufacturer, Renault, to ensure a much smoother start to 2015.
Jan 28, 2015, 12:33 PM EST
Force India opts to concentrate on getting its new 2015 car ready for the second preseason test at Barcelona.
Jan 28, 2015, 12:15 PM EST
Sam Hornish is fitting in quite nicely in his new role with Richard Petty Motorsports.
Jan 28, 2015, 11:56 AM EST
Last year’s July winner at Daytona thinks RPM’s momentum will continue to grow in 2015.
Jan 28, 2015, 11:46 AM EST
A deal to return to a ThorSport Toyota has fallen through for the son of 2002 Daytona 500 winner Ward Burton.
Jan 28, 2015, 11:27 AM EST
Chastain will have support from the National Watermelon Association on his No. 4 Chevrolet Camaro.
Jan 28, 2015, 11:11 AM EST
Roush Fenway Racing continues to look for sponsorship for Darrell Wallace Jr., but Wallace says he plans to run the full XFINITY season.
Jan 28, 2015, 11:04 AM EST
Although there were a number of changes at Roush Fenway Racing, team co-owner Jack Roush believes things are on the right track for a big collective comeback from RFR in 2015.
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