May 16, 2014, 11:00 AM EDT
Bernie Ecclestone has weighed in on the cost cap debate currently dominating Formula 1’s political scene, and has questioned why teams cannot work to cut costs themselves without the imposition of budget limits.
Many efforts have been made over the past five years to introduce a cost cap in Formula 1 after spiralling costs have threatened the future of a number of teams, and has claimed a number of high-profile scalps. Honda, Toyota and BMW all left the sport between 2008 and 2009 due to spiralling costs, but little has changed economically since then.
For Ecclestone, it is simply a case of the teams looking in the mirror and finding a way to self-regulate.
“The teams can cut costs so why don’t they spend less? I don’t think they need a budget cap,” he told The Independent. “The people who don’t need a budget cap will find their way round it.”
The teams further down the grid – Caterham, Marussia, Sauber and Force India in particular – have been pushing for a cost cap in order to become more competitive. However, without having a secure future in the sport, Ecclestone believes that it is unreasonable for them to expect to have a say.
“There are four teams that are not in the Strategy Group and why not? Because the people that are have committed to racing in Formula One to 2020 and have put up sensible guarantees if they don’t,” he said.
The 83-year-old also used the cost cap debate to deal yet another blow to the new engines, believing that the price of implementing them was far too great.
“Tell me, what was the idea of the cap? To keep costs down. So we put this engine in and it costs four times more than the other one, and costs the manufacturers a hell of a lot of money,” Ecclestone pointed out.
Although the teams should indeed be able to cut costs and keep an eye on their own finances, the pursuit of race wins and championships is almost entirely dependent on spending power. All of the successful teams in recent history – Mercedes, Ferrari, Red Bull, Renault and McLaren – have a product backing them (although McLaren is a semi-exception).
The likes of Sauber and Marussia, on the other hand, exist to race, making financial solvency difficult at times. They will not be giving up on the cost cap, even if the likes of Red Bull and Ferrari are happy to spend as much as it takes to win.
Is it really possible for the teams facing financial difficulties to commit to the sport until 2020? And should they really be excluded from the ‘big boy’ strategy group because of this?
Without a cost cap, the teams will continue to spend and spend. They should be able to self regulate, but guidance is required.
This debate will, as it has done for five years now, only continue to rumble on and claim more victims.
Aug 1, 2014, 9:40 PM EDT
The next generation of stock car racing’s fabled Alabama Gang has now officially arrived.
Aug 1, 2014, 8:49 PM EDT
Chase Pistone tops Practice 1, while Brendan Gaughan is fastest in Practice 2 for tomorrow night’s Nationwide Series race.
Aug 1, 2014, 8:08 PM EDT
The Sprint Cup championship leader admits that his back may never “be the same” after suffering spasms in May at Charlotte.
Aug 1, 2014, 7:11 PM EDT
Townley has been released from a local hospital after a hard wreck in ARCA qualifying this morning, but he will not race in tomorrow’s Pocono Mountains 150 for the NASCAR Camping World Truck Series.
Aug 1, 2014, 6:45 PM EDT
Will the 11 team adapt to interim crew chief Mike Wheeler? Plus, Kyle Petty shares his Victory Lane predictions for Sunday’s GoBowling.com 400 at Pocono.
Aug 1, 2014, 6:12 PM EDT
One year ago, Kahne effectively put himself into the Chase with a win at Pocono. Another win on Sunday at the Tricky Triangle could do it again.
Aug 1, 2014, 5:12 PM EDT
Is his first career Sprint Cup win not too far off? Larson’s lap of 183.438 mph is enough to earn pole position for Sunday’s GoBowling.com 400.
Aug 1, 2014, 4:45 PM EDT
Coming up today: Kasey Kahne on his hunt for a Chase-clinching win; expectations for Denny Hamlin’s interim crew chief; Dale Jr. and IndyCar’s Graham Rahal visit National Guard soldiers; the many nuances of Pocono Raceway; Ty Dillon looks back on an extraordinary weekend at Indy.
Aug 1, 2014, 3:43 PM EDT
Larson and Peters go 1-2 in the first Truck practice, then flip-flop in the second practice at Pocono.
Aug 1, 2014, 3:30 PM EDT
Former Pocono winner Kyle Petty explains the aspects that set Pocono apart from the rest of NASCAR’s tracks.
Aug 1, 2014, 3:10 PM EDT
Toronto winner leads second practice for the Verizon IndyCar Series on Friday.
Aug 1, 2014, 2:15 PM EDT
Kenseth’s teammate, Denny Hamlin, does not have regular crew chief Darian Grubb behind him this weekend, as Grubb has begun serving his six-race suspension.
Aug 1, 2014, 1:30 PM EDT
In the final part of our 2014 mid-season review, we look at the storylines that have defined the season so far and take a look at what we may be talking about come the end of the year.
Aug 1, 2014, 1:15 PM EDT
Ives has won multiple Sprint Cup titles as an engineer for Jimmie Johnson, but will be making his Cup debut as a crew chief when he joins forces with Dale Earnhardt Jr. next season.
Aug 1, 2014, 1:00 PM EDT
NASCAR drivers are known for trading paint, spinning out rivals and are seemingly always ready for a fight. And those are just some of the same elements that NASCAR drivers share with CEO’s of some of the best middle-market companies, according to a new story.
Aug 1, 2014, 12:45 PM EDT
Busch posts a lap of 180.353 mph around the 2.5-mile Tricky Triangle.
Aug 1, 2014, 12:30 PM EDT
Much like a frequent flier or frequent hotel guest program, JTG Daugherty has created the first ‘rewards program’ for fans to earn awards and prizes using engagement with the team and its sponsors through social media.
Aug 1, 2014, 12:00 PM EDT
In part two of our mid-season report, we look at the drivers: who has excelled and who has floundered in 2014?
Aug 1, 2014, 11:34 AM EDT
Multi-motorsports team owner Chip Ganassi will be honored August 7 in Corning, N.Y., for more than a quarter-century of contributions to the auto racing world.
Aug 1, 2014, 11:15 AM EDT
Austin Dillon isn’t skating through his rookie season in Sprint Cup. Everything he achieves, he earns. But Dillon did try skating of a different kind and took to it like a natural.