Future of indie teams secured

Doubts about the long-term future of Formula 1's independently-owned teams should be secured during the next fortnight, following the landmark deal between F1 ringmaster Bernie Ecclestone and the manufacturers threatening a breakaway series, according to this week's AUTOSPORT

Future of indie teams secured

The agreement, which was reached before Christmas, should provide enough of a financial boost to guarantee that teams such as Jordan and Minardi will survive. AUTOSPORT understands that the new deal could add another £12million in revenue to each of the 10 teams that currently complete.

Minardi boss Paul Stoddart told AUTOSPORT: "The only way to improve the overall performance of the smaller teams is to make sure they have a bigger slice of the revenue - as is done in so many other sports. We hope there is something on the horizon that will happen in early 2004. Clearly we are safe for '04, no ifs or buts."

Eddie Jordan added: "If the financials are what we estimated and hoped for, this will be a great help to privateers as well as manufacturers. It is good news for F1."

Peter Sauber said: "On the financial side I hope we can improve on this part, because all the teams, not only the small ones, need additional money. At the moment, F1 is a very expensive sport."

In an exclusive interview in this week's AUTOSPORT, FIA president Max Mosley says he will not step in and sort out the problem of rising costs in F1. He says it is up to the team bosses to agree on the best way to save money.

shares
comments
Bahrain refutes terror threat
Previous article

Bahrain refutes terror threat

Next article

Feature: Launch Time Whets F1 Appetites

Feature: Launch Time Whets F1 Appetites
Why few could blame Leclerc for following the example of Hamilton’s exit bombshell Plus

Why few could blame Leclerc for following the example of Hamilton’s exit bombshell

OPINION: Ferrari's numerous strategy blunders, as well as some of his own mistakes, have cost Charles Leclerc dearly in the 2022 Formula 1 title battle in the first half of the season. Though he is locked into a deal with Ferrari, few could blame Leclerc if he ultimately wanted to look elsewhere - just as Lewis Hamilton did with McLaren 10 years prior

The other McLaren exile hoping to follow Perez's path to a top F1 seat Plus

The other McLaren exile hoping to follow Perez's path to a top F1 seat

After being ditched by McLaren earlier in his F1 career Sergio Perez fought his way back into a seat with a leading team. BEN EDWARDS thinks the same could be happening to another member of the current grid

Formula 1
Aug 8, 2022
How studying Schumacher helped make Coulthard a McLaren F1 mainstay Plus

How studying Schumacher helped make Coulthard a McLaren F1 mainstay

Winner of 13 grands prix including Monaco and survivor of a life-changing plane crash, David Coulthard could be forgiven for having eased into a quiet retirement – but, as MARK GALLAGHER explains, in fact he’s busier than ever, running an award-winning media company and championing diversity in motor racing. Not bad for someone who, by his own admission, wasn’t quite the fastest driver of his generation…

Formula 1
Aug 7, 2022
Could F1 move to a future beyond carbonfibre? Plus

Could F1 move to a future beyond carbonfibre?

Formula 1 has ambitious goals for improving its carbon footprint, but could this include banishing its favoured composite material? PAT SYMONDS considers the alternatives to carbonfibre and what use, if any, those materials have in a Formula 1 setting

Formula 1
Aug 6, 2022
How Russell has proven he deserves to be Hamilton's Mercedes heir Plus

How Russell has proven he deserves to be Hamilton's Mercedes heir

He’s fast, he’s smart, and he’s already shown he’s not going to let Max Verstappen intimidate him. George Russell won’t say it, but LUKE SMITH says he’s ready to take the lead at Mercedes when Lewis Hamilton moves on to a quieter life. And – whisper it – Mercedes and Lewis are starting to think so too

Formula 1
Aug 5, 2022
The traits that fuelled Alonso's unexpected Aston Martin move Plus

The traits that fuelled Alonso's unexpected Aston Martin move

Fernando Alonso’s bombshell switch to Aston Martin sent shockwaves through Formula 1, not least at Alpine that finds itself tangled in a contract standoff with Oscar Piastri. Not shy of a bold career move and with a CV punctuated by them, there were numerous hints that trouble was brewing

Formula 1
Aug 4, 2022
The elements Ferrari must resolve to first save face, then win championships Plus

The elements Ferrari must resolve to first save face, then win championships

OPINION: Ferrari's Formula 1 title hopes look all but over after another strategic blunder in last week's Hungarian Grand Prix denied Charles Leclerc the chance to fight for victory, while handing it to chief rival Max Verstappen. The Scuderia now faces intense scrutiny over what it must now do to finally become a genuine factor in championship battles

Formula 1
Aug 3, 2022
The clues about Hamilton’s F1 retirement plans revealed after Vettel’s decision Plus

The clues about Hamilton’s F1 retirement plans revealed after Vettel’s decision

OPINION: Sebastian Vettel is set to leave Formula 1 at the end of 2022 and will, rather shockingly, be replaced by Fernando Alonso at Aston Martin. But what about the final chapter of the other driver that defined the post-Michael Schumacher era? In Hungary, Lewis Hamilton spoke about his future in the context of Vettel’s upcoming departure, which offered clues on how long it will last

Formula 1
Aug 2, 2022