Ecclestone: No more revenue for teams
|By Jonathan Noble||Tuesday, January 20th 2009, 08:06 GMT|
Formula One supremo Bernie Ecclestone has told teams there is little chance of them securing more revenue from him over the next few years - as he warned them they are actually likely to get less income.
The Formula One Teams' Association (FOTA) has made no secret of the fact that it wants Ecclestone to change the way grand prix racing's commercial income is split with the teams.
When it is time for teams to renegotiate the contracts from 2012 onwards, they want a much bigger share than the 50 percent share of profits that they get at the moment.
However, Ecclestone believes that on the back of dramatic cost cuts in the sport there is little need for the teams to get more - as he accused them of not treating talks with him seriously enough.
"We don't need to pay more. We've got to give them less," Ecclestone told the Financial Times. "In what I call the good old days, all we had to do was have a chat with the people who had all the money... but now they come along and they've got lawyers and masseurs and they can never agree on anything."
He added: "They could ask for more money but they won't get it."