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 30, 2014, 10:15 AM EDT
Charlie Kimball on last night’s accident with Mikhail Aleshin.
Aug 30, 2014, 10:00 AM EDT
The fight with Ferrari is set to rage on until the end of the season.
Aug 30, 2014, 9:00 AM EDT
Deputy team principal Federico Gastaldi is going into the Italian Grand Prix weekend with an open mind.
Aug 30, 2014, 7:30 AM EDT
Lotus driver doesn’t think the removal of the gravel track at the corner will change a great deal.
Aug 29, 2014, 11:45 PM EDT
Severe looking three-car accident affects Mikhail Aleshin and two others.
Aug 29, 2014, 8:45 PM EDT
Harvick earns his sixth Sprint Cup pole of 2014 with the help of some advice from returning boss and teammate Tony Stewart.
Aug 29, 2014, 8:00 PM EDT
Helio Castroneves on pole; Will Power struggles to P21 for Verizon IndyCar Series qualifying.
Aug 29, 2014, 7:29 PM EDT
The Nationwide Series rookie and Sprint Cup regular top today’s two practice sessions ahead of tomorrow night’s Great Clips 300 benefiting Feed The Children.
Aug 29, 2014, 7:06 PM EDT
HAMPTON, Ga. — According to Jeff Gordon, the last three Sprint Cup races just weren’t quite the same without Tony Stewart. Gordon is glad Stewart is back.
Aug 29, 2014, 7:00 PM EDT
Danica Patrick, Kevin Harvick, Jeff Gordon, Greg Biffle, Ryan Newman, and Brian Vickers share their thoughts on Tony Stewart getting back behind the wheel in Atlanta.
Aug 29, 2014, 6:45 PM EDT
The 500-mile shootout may be late Saturday night in Fontana, but still promises a bevy of story lines for the Verizon IndyCar Series season finale.
Aug 29, 2014, 6:25 PM EDT
NBCSN contributor Nate Ryan also reports on the atmosphere around Tony Stewart’s return at Atlanta Motor Speedway.
Aug 29, 2014, 6:02 PM EDT
“…[Stewart] being in the race car right now is about him getting through what has been a very emotional two weeks, and what his next step is in coping with this.” – Stewart Haas Racing’s Brett Frood
Aug 29, 2014, 5:41 PM EDT
Brian Vickers and other winless drivers are facing big-time pressure to get a victory in the final races of the regular season.
Aug 29, 2014, 5:30 PM EDT
Porsche GT-Cup class class to enter into Pirelli World Challenge in 2015.
Aug 29, 2014, 5:00 PM EDT
Coming up today: More on the return of Tony Stewart at Atlanta Motor Speedway.
Aug 29, 2014, 4:45 PM EDT
Houston gone and momentum grows for Canadian Tire Motorsport Park, if a date can be found, for IndyCar.
Aug 29, 2014, 4:16 PM EDT
Following an emotional press conference this morning, the three-time NASCAR Sprint Cup Series champion got back to work.
Aug 29, 2014, 3:15 PM EDT
HAMPTON, Ga. — Tony Stewart didn’t just wake up Friday morning and decide he was going to return to NASCAR racing. Rather, NASCAR officials required that Stewart followed procedures and protocols that included him being evaluated by outside professionals.
Aug 29, 2014, 3:05 PM EDT
HAMPTON, Ga. – Tony Stewart is still eligible to make this year’s Chase for the Sprint Cup, NASCAR president Mike Helton announced Friday afternoon at Atlanta Motor Speedway. But for that to happen, Stewart must win one of the next two races to get in.
Video from NASCAR America
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- Jeff Gordon: Last 3 races weren’t the same without Tony Stewart 2
- IndyCar has 500 miles to glory, through speed, dirt, tire fall off and unpredictability 0
- How NASCAR determined Tony Stewart was ready to race again 5
- Helton: Tony Stewart still eligible for Chase, but must win to get in 4