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.
Oct 25, 2014, 1:30 PM EDT
Says first five years in F1 are about surviving, but cannot see the project failing.
Oct 25, 2014, 1:04 PM EDT
Harvick turns in a 19.457-second lap around the Virginia half-mile to top “Happy Hour.”
Oct 25, 2014, 12:30 PM EDT
German driver looking forward to tackling the Circuit of The Americas in Austin next weekend.
Oct 25, 2014, 12:30 PM EDT
Despite fighting breast cancer for the third time, NASCAR fan Wendy Smith decided to spend $25 to help others even less fortunate. Her gratuity paid off in a big way, earning a brand new $65,000 Chevrolet Corvette.
Oct 25, 2014, 12:00 PM EDT
Patrick not afraid to tackle thorny topics yesterday at Martinsville.
Oct 25, 2014, 11:35 AM EDT
On a weekend that carries a lot of significance for honoring NASCAR Hall of Fame-elect inductee Wendell Scott, Darrell “Bubba” Wallace Jr. paid tribute in his own way to Scott, earning the pole for Saturday’s Kroger 200 Camping World Truck Series race.
Oct 25, 2014, 11:30 AM EDT
Former HRT driver casts his damning judgement on the current cost crisis in F1.
Oct 25, 2014, 10:30 AM EDT
The demise of both Caterham and Marussia has been on the cards for some time, yet Formula 1 has allowed it to happen.
Oct 25, 2014, 10:03 AM EDT
Despite chilly temperatures in the mid-40s in the 50-minute early-morning session, Jimmie Johnson led all drivers in the next-to-last Sprint Cup practice with a best lap of 98.023 mph, the only driver over the 98 mph mark.
Oct 25, 2014, 9:30 AM EDT
Over 400 people attend special event in celebration of Brabham’s life and legacy.
Oct 25, 2014, 8:30 AM EDT
Lotus driver has failed to score any points in 2014, but feels that next season will hold better things.
Oct 25, 2014, 7:00 AM EDT
Yet another record falls to the Spanish sensation in Malaysia.
Oct 25, 2014, 5:48 AM EDT
Bernie Ecclestone claims that there will be just 18 cars racing in Austin.
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.
Video from NASCAR America
- Marussia also set to miss United States GP 3
- Jimmie Johnson: ‘That day is out there’ when he’ll split with crew chief Chad Knaus 7
- 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