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 31, 2014, 7:15 PM EDT
Speaking to NBCSN’s Will Buxton, America’s great F1 hopeful speaks about recent events at Marussia and his hopes for the future.
Oct 31, 2014, 7:00 PM EDT
An on-the-ground perspective of the speed, sound and crowd from Austin second practice.
Racing legend Dan Gurney earns one of rarest and most prestigious awards for lifetime achievements (video)
Oct 31, 2014, 6:59 PM EDT
Very few race car drivers deserve to be called “legendary.” Dan Gurney is most definitely one of those, and was honored this week with the Edison-Ford Medal for his incomparable lifetime achievements.
Oct 31, 2014, 6:30 PM EDT
17-year-old Toro Rosso driver continues to prove that age is simply a number in racing.
Oct 31, 2014, 6:10 PM EDT
Austin Dillon was the fastest driver in Friday’s final Nationwide Series practice at Texas Motor Speedway. The defending NNS champ who is now in his rookie season in Sprint Cup, Dillon is making his first NNS start this season in Saturday’s race.
Oct 31, 2014, 6:00 PM EDT
Gauging the pulse of the fans on site at Austin.
Oct 31, 2014, 5:45 PM EDT
The Outlaw attempts the “Candy Corn Challenge” – fitting 100 pieces inside his mouth.
Oct 31, 2014, 5:30 PM EDT
Is there more to Fernando’s future than just McLaren?
Oct 31, 2014, 5:00 PM EDT
Administrators still hoping to get the team racing in Abu Dhabi, but will aim for the grid in 2015 if this is not possible.
Oct 31, 2014, 4:45 PM EDT
Reddick captures his second Truck pole in the last three races.
Oct 31, 2014, 4:32 PM EDT
British driver finishes just 0.003 seconds ahead of Rosberg in FP2, equating to just 6.7 inches around the Circuit of The Americas in Austin, Texas.
Oct 31, 2014, 4:00 PM EDT
The six-time Sprint Cup champion is driving the No. 48 Lowe’s “Red Vest” Chevrolet this weekend.
Oct 31, 2014, 3:45 PM EDT
Finnish driver has endured a difficult return to Maranello in 2014 after five years away.
Oct 31, 2014, 3:00 PM EDT
Chase competitors Kevin Harvick and points leader Jeff Gordon crack the Top 5 speeds.
Oct 31, 2014, 2:45 PM EDT
Can Lewis Hamilton double up in the second practice session in Austin? Join us from 3p ET to find out.
Oct 31, 2014, 2:15 PM EDT
Kenseth says the only way he’d feel a little better about it is if Harvick manages to make the Championship Race.
Oct 31, 2014, 2:03 PM EDT
FIA confirms that the German driver has taken a sixth complete power unit, and will have to start the race from the pit lane at COTA.
Oct 31, 2014, 1:15 PM EDT
Ford drivers take the top three spots in opening Nationwide practice.
Oct 31, 2014, 1:00 PM EDT
Despite exceeding everyone’s expectations in 2014, Valtteri Bottas feels that the team can continue its upward trend next season.
Oct 31, 2014, 12:31 PM EDT
Two-time US GP winner makes the best possible start to his race weekend by topping FP1 in Austin.
Video from NASCAR America
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