Formula 1 teams called to new costs crisis summit meeting

Formula 1 teams have been called to a summit meeting on December 18 in a bid for a breakthrough in the sport's costs crisis, AUTOSPORT has learned

Formula 1 teams called to new costs crisis summit meeting

Lotus, Sauber and Force India have been pushing for ways to help their financial situation, with the hike in engine prices this year having hurt all the customer teams.

Their desire for action ramped up in the wake of Caterham and Marussia going into administration because they could not afford to continue.

But despite hopes that Bernie Ecclestone, the FIA or rival teams could step in to assist - either through reducing costs or increasing revenue - nothing has yet been agreed.

DIETER RENCKEN: F1 rebels got an icy wake-up call

Frustrations about the situation further increased after last week's F1 Commission gathering when, despite an all-day meeting, the subject of costs did not get debated at length as other issues took precedence before time ran out.

Instead, the meeting was dominated by matters including ditching double points, scrapping standing starts after safety cars and arguments over relaxing the engine freeze.

The failure to address the costs situation properly has left the FIA and Ecclestone determined not to let the matter slip - which is why they have called a fresh meeting for later this month where it is expected to be the main focus.

Other matters - such as increasing the popularity of the sport - that did not get talked about at the F1 Commission because of time constraints may also be discussed.

FINDING THE RIGHT SOLUTION

With reluctance from top teams to accept a cost cap or dramatic cost reductions, the focus of efforts is likely to revolve around how to increase the revenue for smaller teams.

FIA president Jean Todt has talked about making a push to reduce the cost of engines, while one suggestion is for the commercial rights income that had been due to Marussia and Caterham to be split between Lotus, Sauber and Force India.

Sauber team principal Monisha Kaltenborn said before the F1 Commission meeting that the time for just talking was over and now a plan had to be put in place.

"Definitely something is happening, but I am cautious to say where we are going to end up," she told AUTOSPORT. "It is clear we need action now.

"We don't have the time any more to think about this and then a month later come back.

"This powertrain, it was imposed on the independent teams here, and we had no choice but to take it. And if costs have gone up so much, we have to find a way to get them down again.

"It cannot be that such a high percentage, by far more than 50 per cent of our FOM income, goes onto the powertrain, and associated secondary costs to it."

shares
comments
F1 champion Lewis Hamilton says tension with Nico Rosberg gone

Previous article

F1 champion Lewis Hamilton says tension with Nico Rosberg gone

Next article

F1's virtual safety car system gets green light for 2015 debut

F1's virtual safety car system gets green light for 2015 debut
Load comments
Hamilton at 100 wins: In his adversaries’ words Plus

Hamilton at 100 wins: In his adversaries’ words

Some 18 drivers have finished runner-up to Lewis Hamilton on his way to 100 wins. Three of those recall their battles with Formula 1’s centurion and give their personal insights into the seven-time world champion on his rise to unchartered territory

Russian Grand Prix Driver Ratings Plus

Russian Grand Prix Driver Ratings

The 2021 Russian GP was decided by late-arriving rain that allowed some to climb and caused others to plummet. But the events which played out beforehand are equally significant when considering the all-important driver ratings

How Mercedes made the “blind faith” call that won Hamilton his 100 milestone at Sochi Plus

How Mercedes made the “blind faith” call that won Hamilton his 100 milestone at Sochi

Until rain turned the Russian Grand Prix on its head in the closing stages, Lando Norris was set to convert his first Formula 1 pole position into a maiden win. But having recovered well from being shuffled back at the start, Hamilton and his Mercedes team called the changing conditions spot-on for a landmark 100th F1 victory

Why momentum is again behind Australia’s aces Plus

Why momentum is again behind Australia’s aces

At the Italian Grand Prix Daniel Ricciardo turned around a troubled F1 season and, in F2, Oscar Piastri demonstrated once again that he is a potential star of the future. BEN EDWARDS weighs up the prospects of F1 having two Australian stars

Formula 1
Sep 26, 2021
The tough balancing act facing Schumacher’s Netflix film producers Plus

The tough balancing act facing Schumacher’s Netflix film producers

Michael Schumacher is the latest sporting superstar to get the ‘Netflix treatment’, with a special documentary film airing on the US streaming giant’s platform this month. DAMIEN SMITH has the inside track on how the filmmakers gained access to tell the human story behind one of Formula 1’s most publicity-shy champions - while the man himself, for obvious reasons, is in absentia… 

Formula 1
Sep 25, 2021
The times that suggest Verstappen should be confident of F1 Russian GP recovery Plus

The times that suggest Verstappen should be confident of F1 Russian GP recovery

For the second race in a row, Mercedes has ended the first day of track action on top. It’s in a commanding position at the Russian Grand Prix once again – this time largely thanks to Max Verstappen’s upcoming engine-change grid penalty. But there’s plenty to suggest all hope is not lost for the championship leader at Sochi

Formula 1
Sep 24, 2021
The ‘backwards step’ that is the right move for Formula 1 Plus

The ‘backwards step’ that is the right move for Formula 1

OPINION: With its days apparently numbered, the MGU-H looks set to be dropped from Formula 1’s future engine rules in order to entice new manufacturers in. While it may appear a change of direction, the benefits for teams and fans could make the decision a worthwhile call

Formula 1
Sep 23, 2021
The floundering fortunes of F1’s many Lotus reboots Plus

The floundering fortunes of F1’s many Lotus reboots

Team Lotus ceased to exist in 1994 - and yet various parties have been trying to resurrect the hallowed name, in increasingly unrecognisable forms, ever since. DAMIEN SMITH brings GP Racing’s history of the legendary team to an end with a look at those who sought to keep the flame alive in Formula 1

Formula 1
Sep 22, 2021