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.”
Oct 24, 2014, 11:50 PM EDT
In a surprisingly candid admission, six-time Sprint Cup champ Jimmie Johnson says that while nothing is imminent, the day is coming when he and crew chief Chad Knaus will go their separate ways.
Oct 24, 2014, 11:32 PM EDT
In a bemusing video released Thursday, NASCAR star Kevin Harvick spent one of his recent off nights working the room at an Outback Steakhouse.
Oct 24, 2014, 10:30 PM EDT
On Thursday, Jeff Gordon delivered the one millionth meal served by one of Gordon’s key sponsors, the Drive To End Hunger.
Oct 24, 2014, 10:26 PM EDT
Jimmy Prock, who resigned earlier this week as crew chief for 16-time Funny Car champ John Force, has been hired by rival Don Schumacher Racing.
Jeff Gordon would love to return to Saturday Night Live — and wants to bring Ricky Funck with him (video)
Oct 24, 2014, 7:59 PM EDT
Jeff Gordon said Friday he wants to return to host Saturday Night Live for a second time — and he wants to reprise the hysterical “Ricky Funck” character.
Oct 24, 2014, 6:37 PM EDT
A loose car and two brushes with the wall has put Kevin Harvick in a deep hole at the start of Sunday’s Eliminator Round opener.
Oct 24, 2014, 6:06 PM EDT
If racing at Martinsville Speedway was like buying an ice cream cone, Jamie McMurray double-dipped during Friday’s Sprint Cup qualifying, earning the pole and setting a new track speed record (99.905 mph) in the process.
Oct 24, 2014, 5:19 PM EDT
Both Blaney and Wallace are within 30 points of championship leader Matt Crafton going into tomorrow’s Camping World Truck Series race at Martinsville.
Oct 24, 2014, 4:30 PM EDT
A fifth win at Martinsville would put Hamlin into the Sprint Cup Championship Race at Homestead.
Oct 24, 2014, 3:25 PM EDT
Danica, who will swap CCs with teammate Kurt Busch starting next week at Texas, says she’s looking forward to working with the engineering-based Daniel Knost.
Oct 24, 2014, 2:15 PM EDT
GT/GTS races confirmed for split in 2015 by the Pirelli World Challenge series.
Oct 24, 2014, 1:40 PM EDT
Gordon leads group of four Chasers in Top 5 speeds; all 8 remaining Chasers within Top 15.
Oct 24, 2014, 1:30 PM EDT
Formula 1’s new technical regulations prompted Lotus to use a twin-tusk nose for 2014, but this could be scrapped for next season.
Oct 24, 2014, 1:15 PM EDT
The reigning Sprint Cup champion moves forward.
Oct 24, 2014, 12:50 PM EDT
Bernie Ecclestone allows the team to miss the next two races as it searches for a buyer.
Oct 24, 2014, 12:30 PM EDT
Deputy team boss Federico Gastaldi says the team is close to finalizing its drive line-up, with Grosjean in pole position for the seat.
Oct 24, 2014, 12:07 PM EDT
A win for Kenseth this Sunday would also put him into the Sprint Cup Championship Race at Homestead next month.
Oct 24, 2014, 11:45 AM EDT
Two-time Formula One World Champion Emerson Fittipaldi will make an appearance at Austin’s Circuit of the Americas next week as part of a COTA fan experience.
Oct 24, 2014, 11:30 AM EDT
Ricciardo full of praise for Austin and the Circuit of the Americas ahead of next weekend’s race.
The man behind the sculptures: William Behrends’ presence endures for Borg-Warner Trophy, and Giants legends
Oct 24, 2014, 11:09 AM EDT
Statues outside AT&T Park and the faces on the Borg-Warner Trophy share a common thread, in sculptor William Behrends.
Video from NASCAR America
- Jimmie Johnson: ‘That day is out there’ when he’ll split with crew chief Chad Knaus 1
- Jeff Gordon would love to return to Saturday Night Live — and wants to bring Ricky Funck with him (video) 0
- 2-for-1: Jamie McMurray wins Martinsville pole, sets track record 0
- Caterham given dispensation to miss Austin and Brazil 3
- Caterham the latest team to fall foul of the Leafield ‘curse’ 1
- Administrator takes over running of Caterham F1 Team 1
- Remembering the Hendrick Motorsports airplane tragedy: 10 years later, it still seems like just yesterday 3